Jennifer Trucking Company operates a large rig transportation business in Texas that transports locally grown vegetables to San Diego, California. The company owns 5 large rigs and hires local drivers paid fixed salaries monthly, regardless of the number of trips or tons of cargo that each driver transports each month. The below
Please help me answer the following questions. 1. Explain how Internet security measures can actually create opportunities for criminals to steal, rather than prevent them. 2. What are some of the steps a company can take to curtail cybercriminal activity from within a business?
Calculate the following short-run costs for a firm: Q = 0, TC = 20: what is the fixed cost? Q = 1, MC = 20: what is the total cost when Q = 1? Q = 2, AVC = 15: what is average total cost when Q = 2? Q = 3, TC = 77: what is marginal cost when Q = 3? Q = 4, TVC = 76: what is marginal cost when Q = 4?
The market structures influence how price and output decisions are made by the firms in their respective structure. In all market structures, one of the primary goals is to maximize profits or minimize losses. One of the major differences between these market structures is how price and output decisions are made, which in tur
What is a "marginal" and why is it so important in microeconomics?
What are the differences or the pro's and cons of proprietorships and partnerships as a form of business organization?
The (inverse) demand curve for the services of Oakland Pest Control Co. (OPCC) is given by P = $1000 - 2Q, where P is in dollars, and Q is residences/month. The cost equation is given by C = 2000 + 30Q. a. Sketch and label OPCC's demand and marginal revenue curves, and determine the maximum revenue it can make. b. Wh
What happens to consumer and producer surplus when a good is taxed? Explain using the concept of deadweight loss.
Are brand extensions an important brand-growth strategy or can they endanger brands? Perhaps start with a definition of brand extensions?
Economy 4-1,2. (1)Which of the following statements is an example of a firms implicit costs? (a) For Pottery Super Center to stay in business, it must pay its cashiers $100 per day of work. (b) In order for Smoothie Giant to create Superboy smoothies with its blenders, it must give up the opportunity to use those bl
Illustrate the AFC, AVC, ATC, and MC curves on a diagram and show that marginal cost intersects average total cost at the minimum of average total cost. Use the excel file I uploaded as a reference for the graphs.
Addis Music Company of D.C. enjoys an exclusive copyright for music written by KuKu, a legendary African Reggie group. Total revenue and cost for the group is as given below: C=f(Q)=880+0.25Q+0.0025Q^2 P=20.25-0.01Q P (the second equation) is the inverse demand curve. it is also the price (thus = P(Q) C is total cost Q
Buying A Boat: A Commercial Fisherman needs to purchase a new boat. He is considering three alternatives A, B & C. Boat A costs $200,000. and is expected to produce net revenues of $50,000 per year. Boat B costs $290,000 and is expected to produce net revenues of $75,000 per year. Boat C costs $225,000 and is expected to p
In developing a subdivision, the developer is required to build the roads to the city building code specifications and to deposit an amount which will allow the city to repave the roads every four years for an indefinite period of time. The costs to construct the roads are $25,000 and $4,000 each time repaving is required. Th
A refuse recycling operation is considering installing some additional magnetic sorting equipment which will protect the processing equipment from damage. Three alternative systems have been identified, each of which is estimated to save the company $1,200 each year. The lifetime of each alternative is estimated to be 15 years.
Prices, Output and Strategy: - Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy. Provide support for your recommendations. - Discuss
Which of the following is (are) true? a. Accounting costs genearlly underestimate economic costs b. Accounting profits generally overstate economic profits c. In the absence of any opportunity costs, accounting profits equal economic profits d. All of the statements associated with this question are correct
# of Units Produced Total Revenue Total Costs 0 0 0 10 120 40 20 200 100 30 270
Can you help me explain this fixed and variable cost problem? I am not too sure how to go about answering this question. Problem: Organizations typically have high or low fixed costs. It is important to understand the difference between these two types of organizations and how their business decisions differ. One organizatio
Your firm currently uses 69 workers to produce 300 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is $100 per day. Fixed costs are $2100 per day. What is total cost (TC)? What is average cost (AC)? What is variable cost (VC)? What is aver
1. Suppose point A represents the optimal mix of output, that is, the mix of private and public goods that maximizes society's welfare. Because consumers won't demand purely public goods in the marketplace, the price mechanism won't allocate so many resources to their production. Instead the market will tend to produce a mix of
Suppose an airline flying on the New York - Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travelers. They are: Business: P = 600-Q and MR = 600-2Q; Leisure: P = 500-2Q and MR = 5
Suppose the military bureaucracy consistently misinforms Congress on the total costs of producing military hardware. Assume that it underestimates the actual costs and that the political representatives believe these estimates. How is this likely to cause a loss in efficiency? What are the efficient outputs of military hardware
Say you are the manager of a perfectly competitive firm selling a t-shirts for restaurant advertisement. Your business is making a loss because total revenue is less than total costs. What would you do - shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include - state the pro
Problem #1: Using either a graph or table, use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is p
Price ; Quantity Demanded $200 ; 1000 $150 ; 1400 $100 ; 1800 If price falls from $200 to $150, what is the elasticity of demand over this range? A. -0.625 B. -1.0 C. -1.17 D. -2.5 E. -3.0 As output increases from 1,000 to 1,400 what is marginal revenue? A. $25 B. $50 C. -$400 D. -$25 E. -$75 If price fal
There exists what has been termed the triangle of healthcare. The three sides are: (a) cost, (b) access, and (c) quality. What is this triangle and the relationship of the three aspects? How does each one dramatically influence the others?
Use MS Excel for your calculations. The following is a list of four projects that Capital Corporation must choose from for the coming year: Project Project Price Annual Net In?ows A 700,000 118,861 B 670,000 109,039 C 184,000
C(x)=5x+240 and P(x)=.3x+500 Find: 1. R(x) 2. the marginal revenue and marginal cost 3. an equation for x where marginal revenue and cost are equal
You are the manager of a monopolistically competitive firm. The inverse demand for your product is given by P=200-10Q and your marginal cost is MC=5+Q. A. What is the profit-maximizing level of output? B. What is the profit-maximizing price? C. What are the maximum profits? D. What do you expect to happen to the demand for your