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2 years ago

7

A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 5 percent. Thi

s firm is earning $5. 50 on every $50 invested by its founders.

1 answer:

lesya692 [45]2 years ago

4 0

Answer:

1. 11%

2. Yes and it is 6% for the large

3. Entry

4. 5%

Explanation:

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Prove you know what diminishing marginal utility is by creating an example of your own. Your example

valentina_108 [34]

Hi there, I'm not answering this question, sorry.

Your task clearly states you must think of your own example and prove what you know. That's why.

Please, if you're coming onto the <em>Brainly</em> website, at least improve your questions.

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3 years ago

Supply of Children's Books Price (dollars) Quantity (books) $12 24 10 20 8 16 6 12 4 8 2 4 0 0 Instructions: Round your answers

Nataly_w [17]

Answer:

40%

Explanation:

the percentage change in price using the midpoint method = {(P₂ - P₁) / [(P₂ + P₁)/2]} x 100

= {($6- $4) / [($6 + $4)/2]} x 100 = [$2 / ($10 / 2)] x 100 = ($2 / $5) x 100 = 0.4 x 100 = 40%

The advantage of using the midpoint method for calculating percentage changes is that it doesn't matter if the change is positive or negative, e.g. it will yield the same result if the price increases or decreases in the same amounts.

5 0

3 years ago

Clarence and Clay are partners who share income in the ratio of 2:3 and have capital balances of $50,000 and $30,000, respective

valentinak56 [21]

Answer: $44,400

Explanation: step by step explanation.

1. Change in old partner's account is done by calculating the total of the old partners' balances plus the amount contributed by the new partner. That is

$50,000 + $30,000 + $30,000 = $110,000).

2. Multiplied the total by the percent given to the new partner. That is $110,000 × .40 = $44,000.

Compared amount paid by the new partner. That is

$44,000 - $30,000 = $14,000

4. If the amount paid is less than the new calculated partner percent, the difference is allocated to old partner accounts based on the old profit-sharing ratio. That is

$14,000 × 2/5 = $5,600

5. Take the old partners' capital balance and subtract the calculated change. That is

$50,000 - $5,600 = $44,400

7 0

3 years ago

Zach has decided to start his own photography studio. To purchase the necessary equipment, Zach withdrew $10,000 from his saving

Serga [27]

Answer:

Zach's annual opportunity cost of the financial capital(implicit + explicit)that has been invested in the business is $700.

Explanation:

opportunity cost = 3%($10,000) +8%($5,000)

= $300 + $400

= $700

Therefore, Zach's annual opportunity cost of the financial capital(implicit + explicit)that has been invested in the business is $700.

3 0

3 years ago

Let us assume two students must prepare a presentation for their economics class. As part of their class presentation, they must

patriot [66]

Answer:

A. How much time would it take the two students to complete the project if they divide the two tasks equally?

James needs 10 hours to complete half the task and Jane needs 16 hours to do her part = total work 26 hours

B. How much time would it take the two students to complete the project if they use comparative advantage and specialize in calculating or preparing slides?

If they specialize, then Jane should do the calculations (12 hours) and James should prepare the slides (10 hours) = total work 22 hours

C. If James and Jane have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?

Yes, Jane should pay James so that he does the whole work all by himself. Since James opportunity cost is $5 per hour, his total economic cost of doing the work is $100, and half of that is $50. Jane's economic cost of doing her part is $60 (= 12 x $5), so if she pays any amount lower than $60 and equal or higher than $50 to James, then they would both win.

Explanation:

50 powerpoint slides

James needs 10 hours to do the calculations and 10 hours to prepare the slides = 20 hours total / 2 = 10 hours

Jane needs 12 hours to do the calculations and 20 hours to prepare the slides = 32 hours total / 2 = 16 hours

James's opportunity cost of doing the calculations or preparing the slides is 10 / 10 = 1

Jane's opportunity cost of doing one hour of calculations is 20 / 12 = 1.67 hours of preparing slides.

Jane's opportunity cost of doing one hour of preparing slides is 12 / 20 = 0.6 hours of calculations.

5 0

4 years ago