Economics

A firm is planning to manufacture a new product. As the selling price is increas

A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate P = $35.00 - 0.02Q (P = sell…

A firm is planning to manufacture a new product. The sale department estimates t

A firm is planning to manufacture a new product. The sale department estimates that the quantity that can be sold depends on the selling price. As the seller price is increased, t…

A firm is producing 1,000 units at a total cost of $8,000. If it were to increas

A firm is producing 1,000 units at a total cost of $8,000. If it were to increase production to 1,001 units, its total cost would rise to $8,005. What does this information tell y…

A firm is producing 15 units of output and employing 3 workers at a wage rate of

A firm is producing 15 units of output and employing 3 workers at a wage rate of $ I5. The marginal product of a 4th $5 worker is 3 units of output. What is the firm's marginal co…

A firm is producing 200 units of its product. At this level of output the AVC=$2

A firm is producing 200 units of its product. At this level of output the AVC=$20, and the ATC=$70. The firm is a price taker and the price for its product is $100. Assuming that …

A firm is producing 50 units of output at a total cost of $1,000, with a per-uni

A firm is producing 50 units of output at a total cost of $1,000, with a per-unit variable cost of $8. What is the firm’s average fixed cost? A) $12 B) $4 C) $20 D) $28 Can anyone…

A firm is producing two goods (X and Y) that are related in consumption. The dem

A firm is producing two goods (X and Y) that are related in consumption. The demand function for X is: Which of the following pairs of goods might the fim be producing? Select one…

A firm is trying to decide whether to have a centralized warehouse or regional w

A firm is trying to decide whether to have a centralized warehouse or regional warehouses. A centralized warehouse would be cheaper than four regional warehouses, but the expenses…

A firm is trying to decide whether to have a centralized warehouse or regional w

A firm is trying to decide whether to have a centralized warehouse or regional warehouses. A centralized warehouse would be cheaper than four regional warehouses, but the expenses…

A firm is using 500 units of capital and 200 units of labor to produce 10,000 un

A firm is using 500 units of capital and 200 units of labor to produce 10,000 units of output. Capital costs $100 per unit and labor $20 per unit. The last unit of capital added 5…

A firm is using 500 units of labor and 100 units of capital to produce 100 units

A firm is using 500 units of labor and 100 units of capital to produce 100 units of output. Labor costs $5 per unit and capital $20 per unit. At these input levels, another unit o…

A firm is using 500 units of labor and 100 units of capital to produce 100 units

A firm is using 500 units of labor and 100 units of capital to produce 100 units of output. Labor costs $5 per unit and capital $20 per unit. At these input levels, another unit o…

A firm isconsidering purchasing $22500 of hand tools for use on a productionline

A firm isconsidering purchasing $22500 of hand tools for use on a productionline. It is estimated that the tools will reduce overtime work by$2300 the first year, with this amount…

A firm keeps excess cash on hand to buy the distressed assets of its competitors

A firm keeps excess cash on hand to buy the distressed assets of its competitors in times of economic recession. This is an example of the ___________ need for holding cash. A) sp…

A firm makes and sells a computer for $1000. The variable cost to produce A comp

A firm makes and sells a computer for $1000. The variable cost to produce A computer, for the range of production of the firm, is $300 per unit. The total fixed cost per year to m…

A firm makes and sells a computer for $1000. The variable cost to produce a comp

A firm makes and sells a computer for $1000. The variable cost to produce a computer, for the range of production of the firm, is $3000 per unit. The total fixed costs per year to…

A firm makes two goods, q1 and q2 which are imperfect substitutes. At its factor

A firm makes two goods, q1 and q2 which are imperfect substitutes. At its factory store the firm sells both goods, but mainly q2, a slightly inferior version of q1. So p1 > p2.…

A firm makes two products, x and y. Inverse demand for each shows that pricing i

A firm makes two products, x and y. Inverse demand for each shows that pricing in one market depends on sales in the other according to the equations: Px = 1000 -20x + 3y and Py =…

A firm manufactures and sells high quality business priters and ink toners. Each

A firm manufactures and sells high quality business priters and ink toners. Each printer sells for $650 and each toner for $100. The average user keeps the priter for 5 years and …

A firm must decide whether to provide their salespeople with firm-owned cars or

A firm must decide whether to provide their salespeople with firm-owned cars or to pay a mileage allowance for their own cars. New cars would cost about $28,000 each and could be …

A firm must decide which of 3 alternative to adopt to expand its capacity. The f

A firm must decide which of 3 alternative to adopt to expand its capacity. The firm wishes the minimum annual profit of 20% of the initial cost of each separable increment of inve…

A firm operates two lines of business, pre-school education and weekend adult ed

A firm operates two lines of business, pre-school education and weekend adult education classes, using a common classroom building. The building also has three offices for the fir…

A firm operating under monopolistic competition - a price maker - is facing an u

A firm operating under monopolistic competition - a price maker - is facing an unexpected inventory buildup due to a weakening national economy. (A) Describe the two key rules tha…

A firm owns two buildings which have the same value (W0 = 40 for each building)

A firm owns two buildings which have the same value (W0 = 40 for each building) and which are subjected to a risk of full loss with identical probability 1/4. Because these buildi…

A firm owns two buildings which have the same value (W0 =40 for each building) a

A firm owns two buildings which have the same value (W0 =40 for each building) and which are subjected to a risk of full loss with identical probability 1/4. Because these buildin…

A firm pays in cash $250000 in wages, $55430 in interest on borrowed money capit

A firm pays in cash $250000 in wages, $55430 in interest on borrowed money capital and $74320 for the yearly rental of its factory building. If the entrepreneur worked for somebod…

A firm pays in cash $250000 inwages, $55430 in interest on borrowed money capita

A firm pays in cash $250000 inwages, $55430 in interest on borrowed money capital and $74320 forthe yearly rental of its factory building. If the entrepreneurworked for somebody e…

A firm produces 1000 units per week. It hires 10 fulltime workers (40 hours/week

A firm produces 1000 units per week. It hires 10 fulltime workers (40 hours/week) at an hourly wage of $20. Raw materials are ordered weekly and they costs $5 for every unit produ…

A firm produces 20 units of stuff using 5 units of labor. The value of the total

A firm produces 20 units of stuff using 5 units of labor. The value of the total product is $60 and the total variable input cost is $20. What is the marginal revenue of the firm?…

A firm produces 300 units of output at a total cost of $1,000. If fixed costs ar

A firm produces 300 units of output at a total cost of $1,000. If fixed costs are $100, Answer a. average total cost is $4. b. average variable cost is $3. c. average fixed cost i…

A firm produces an output y using labor and capital, whose quantities are denote

A firm produces an output y using labor and capital, whose quantities are denoted respectively by xLand xK. Suppose this firm's production function is given by Answer the followin…

A firm produces and sells calendars. Last year, it produced 3,250 calendars and

A firm produces and sells calendars. Last year, it produced 3,250 calendars and sold each for $10. In producing these calendars, it incurred variable costs of $25 000 and a total …

A firm produces for two markets, (#1 & #2). The demand curves and total cost cur

A firm produces for two markets, (#1 & #2). The demand curves and total cost curve are shown below. The schedules below are derived from these demand and cost curves. Consider…

A firm produces for two markets, (#1 & #2). The demand curves and total cost cur

A firm produces for two markets, (#1 & #2). The demand curves and total cost curve are shown below. The schedules below are derived from these demand and cost curves. Consider…

A firm produces output according to a production function: Q = F ( K,L ) = min {

A firm produces output according to a production function: Q = F(K,L) = min {3K,3L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $40 per hour and t…

A firm produces output according to a production function: Q = F ( K,L ) = min {

A firm produces output according to a production function: Q = F(K,L) = min {5K,5L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $60 per hour and t…

A firm produces output according to a production function: Q = F ( K,L ) = min {

A firm produces output according to a production function: Q = F(K,L) = min {3K,3L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $40 per hour and t…

A firm produces output according to a production function: Q = F(K,L) = min {2K,

A firm produces output according to a production function: Q = F(K,L) = min {2K,4L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $30 per hour and t…

A firm produces output according to a production function: Q = F(K,L) = min {2K,

A firm produces output according to a production function: Q = F(K,L) = min {2K,2L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $40 per hour and t…

A firm produces output according to a production function: Q = F(K,L) = min {3K,

A firm produces output according to a production function: Q = F(K,L) = min {3K,6L}. a. How much output is produced when K = 2 and L = 3? ______ b. If the wage rate is $55 per hou…

A firm produces output according to a production function: Q = F(K,L) = min {5K,

A firm produces output according to a production function: Q = F(K,L) = min {5K,5L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $50 per hour and t…

A firm produces output using two factors of production according to technology f

A firm produces output using two factors of production according to technology f(x1, x2) = X1^1/2*X2^1/4. The price of output is 4. Factors 1 and 2 cost to the firm w1 and w2 per …

A firm produces three products A, B, and C. Long-run projected sales per year ar

A firm produces three products A, B, and C. Long-run projected sales per year are 10,000 units of A, 12,000 units of B, and 8,000 of C. a) Determine whether the firm should remain…

A firm produces two goods, Q_1 and Q_2. The demand function for Q_1 is: Q_1 = 10

A firm produces two goods, Q_1 and Q_2. The demand function for Q_1 is: Q_1 = 10 - P_1 and the demand function for Q_2 = 5 - 0.5P_2. Meanwhile, the total cost function is TC = 0.5…

A firm producing backpacks has a production function given by Q = 2K1 Lt. The wa

A firm producing backpacks has a production function given by Q = 2K1 Lt. The wage rate (w) is $4, the rental rate (r) is $2, the market price (p) the backpacks is $30, and capita…

A firm producing good Y recently increased monthly production from 1,500 units t

A firm producing good Y recently increased monthly production from 1,500 units to 2,000 units. This had no impact on the market price of good Y. At the new production level of 2,0…

A firm sells a product. The daily demand for the product is estimated by: P=150-

A firm sells a product. The daily demand for the product is estimated by: P=150-5Q Marginal Cost is constant at $2 per unit, fixed cost is 0, and ATC is also constant at $2. a) wr…

A firm sells its product in a perfectly competitive market where other firms cha

A firm sells its product in a perfectly competitive market where other firms charge a price of $100 per unit. The firms total costs are C(Q) = 50 + 12Q + 2Q^2. a. How much output …

A firm sells its product in a perfectly competitive market where other firms cha

A firm sells its product in a perfectly competitive market where other firms charge a price of $100 per unit. The firm’s total costs are C(Q) = 50 + 12Q + 2Q2. a. How much output …

A firm sells its product in a perfectly competitive market where other firms cha

A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm’s total costs are C(Q) = 50 + 10Q + 2Q2. a. How much output …