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1 year ago

What is the most efficient level of output and correponding marketer-hours in the short-run?

1 answer:

7 0

The most efficient level of output and corresponding marketer hours in the short-run is capital for a time period of fewer than four-six months.

The short run is an idea that within a certain time period, at least one input is fixed while others remain variable. In the short run, firms face both variable and fixed costs, which means that wages, output, and prices do not have full freedom to reach a new equilibrium.

In the short run one factor of production, for instance capital is fixed. This is a time period of fewer than four-six months. In the short run, the firm should increase output as long as marginal revenue exceeds marginal cost, and reduce output if marginal revenue is less than marginal cost.

Hence, in the short run, a firm decides how much output to produce in the current facility.

To learn more about short-run here:

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A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (17,700 units)

andreev551 [17]

Answer:

Value of closing inventory = $69,478

Explanation:

Since the capacity is 100% utilized, therefore rate of absorption will be based accordingly.

Under absorption costing only manufacturing costs form part of cost of goods, and not the operating expenses which include, selling and distribution or administrative.

Therefore cost of goods produced =

Variable = Direct materials $182,500 + Direct labor 234,900 + Variable factory overhead 254,900 = $672,300

Fixed = Fixed factory overhead 96,300 = $96,300

Total manufacturing cost = $672,300 + $96,300 = $768,300

Number of units produced = 17,700

Cost per unit = $768,300 / 17,700 = $43.424

Value of closing inventory = $43.424 $\times$ 1,600 units = $69,478

5 0

3 years ago

In 2015, an inventor dreamed up and constructed a certain new kind of widget. He kept his invention a secret. Two years later, a

tatuchka [14]

Answer:

Please take a look to the explication below.

Explanation:

The inventor who filed the patent application for the widget in December 2017 would receive the patent protection. As the invention is novel and not obvious, the inventors are eligible for patent protection. US had moved from first-to-invent to first-to-file system after the America invents Act in 2011 and hence patents are awarded to the inventor who first files for patent protection.

Before the law, it was awarded to the person who first invented the invention even if they did not file for patent protection. But now it goes to the person who first files the invention and hence the inventor who first invented but filed in March 2018 is not entitled for the patent.

6 0

3 years ago

As a high school student, which of the three error types would you be most concerned about? Why?

ad-work [718]

The three error types i would be most concerned about is wrong address, misspelled name and wrong name because they could lead to lower credit scores

The error in this context related to credit report errors which can happen while been a high school student.

Credit report refers to the organized record database of borrower's credit history from different sources.

Based on statistics, the student responded that the error they are most concerned about includes:

Wrong Address
Misspelled Name
Wrong Name.

Hence, the three error types i would be most concerned about is wrong address, misspelled name and wrong name because they could lead to lower credit scores.

Read more about credit scores

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3 0

2 years ago

Which one of the following statements correctly describes export subsidies?

JulijaS [17]

A. Export subsidies are government payments to domestic producers to enable them to charge lower prices and sell more goods

7 0

3 years ago

Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies sug

Varvara68 [4.7K]

Answer:

P = 38

Q = 95,000

max profit: 2,310,000

Explanation:

cost: 540,000 + 40Q

marginal cost: dC/dQ = 40

based on the current price and sales and the marketing studies we build for the inverse demand function:

Q = aP + b

if P = 70 then, Q = 15,000

if P = 68 then, Q = 20,000

-2P = + 5,000Q

-1P then, 2,500 Q

15,000 = -2,500(70) + b

b = 190,000

so Q = -2,500P + 190,000

revenue; P x Q

P x (-2,500P + 190,000)

-2,500P2 +190,000P

marginal revenue: dR/dQ = -5,000P + 190,000

max profit at MR = MC

40 = 190,000 - 5,000P

189,960 / 5,000 =37.992‬ = 38

Q = -2,500(38) + 190,000 = 95,000

Profit:

(70 - 40) 95,000 - 540,000 = 2,850,000 - 540,000 = 2,310,000

7 0

3 years ago