(PLEASE ANSWER FAST!!) (19 POINTS)

Zoe's Bakery operates in a perfectly competitive industry. Suppose that when the market price is $5, the profit-maximizing outpu

Rom4ik [11]

Answer:

$3 is Zoe's Bakery marginal cost and Short run profits are $150.

Explanation:

As a change in quantity is not specified, then, The Marginal cost is the average variable cost of producing 1 unit ($3). And the profit at 150 units produced and sell at a price of $5 is $150 as revenue is $750 and total cost is $600.

5 0

3 years ago

The distribution of income for Dismal is as follows: Number of Families Income 1,000 less than $10,000 2,000 between $10,000 and

RUDIKE [14]

Answer:

The correct answer is:

$20,000 (b.)

Explanation:

In order order to calculate the poverty line for Dismal, we will first of all calculate the total number of families in Dismal as follows:

from lowest to high income = 1,000 + 2,000 + 2,000 + 800 + 200 = 6,000

Next, we are told that the poverty rate = 50% = 0.05

Since the Total families = 6000

Therefore, number of poor families = 50% of 6,000 = 0.05 × 6000 = 3,000

Therefore 3,000 families are poor in Dismal

To determine the poverty line, we will count from the lowest earning families upwards until the 3,000th family. The highest income of the 3,000 families counted forms the poverty line. This is done as follows:

1,000 families = $10,000

2,000 families = $10,000 to $20,000

These two groups make up the first 3000 families, and the highest income in the group is $20,000.

Hence the poverty line of Dismal = $20,000

5 0

3 years ago

Splish Brothers Inc. has 9300 shares of 4%, $50 par value, cumulative preferred stock and 186000 shares of $1 par value common s

fiasKO [112]

Answer:

The dividends received by the preferred stockholders in 2017 is $24,300

Explanation:

The computation of the preferred stockholder dividend is shown below:

= Yearly dividend - dividend paid in 2016

where,

Yearly dividend = Number of shares × par value per share × rate

= 9,300 shares × $50 × 4%

= $18,600

And, the 2016 dividend is $12,900

Now put these values to the above formula

So, the value would equal to

= $18,600 - $12,900

= $5,700

So, the total dividend would be

= Year end dividend + last year dividend

= $18,600 + $5,700

= $24,300

Out of the $64,500, the $24,300 will be distributed to the preference shareholders and the remaining amount $402,00 would be distributed to the common stockholders

5 0

3 years ago

The marketing model is based on the premise that consumers buy products more than solutions.

irina [24]

Answer:

The statement is: False.

Explanation:

The product orientation of marketing places special attention in the products firms want to offer. According to this approach, consumers buy products more than solutions, they are interested in product quality, and choose between one product and another according to the best quality they can acquire for the price they pay.

7 0

3 years ago

Charles is a stay-at-home parent who lives in New York City and teaches tennis lessons for extra cash. At a wage of $25 per hour

Margaret [11]

Answer:

2.75, elastic.

Explanation:

Measure labor supply elasticity of Individual T's as follows :

$\bf Elasticity=\frac{Percent \;change\;in\;labour\;hr}{\frac{Average\;labour\;hour}{\frac{Percent\;change\;in\;wage\;price}{Average\;wage\;price} } }$

$\bf =\frac{16-6}{\frac{16+6}{\frac{2}{\frac{35-25}{\frac{35+25}{2} } } } }$

$\bf=\frac{10}{\frac{11}{\frac{10}{30} } }$

$\bf=\frac{0.91}{0.33}$

$=2.75$

Therefore, the elasticity of the labour supply of Individual T's is approx. of earnings per hour. <u>2.75</u>, meaning that the work supply of Person T's is <u>elastic</u> across this wage range

4 0

3 years ago