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1 year ago

FILL IN THE BLANK. aggregate supply curves are_for low levels of output, and_for high levels of output.

1 answer:

4 0

For low levels of output, aggregate supply curves are comparatively flat; for high levels of output, they are comparatively steep.

<h3>What is aggregate supply? </h3>

The total amount of merchandise that businesses will produce and sell is known as aggregate supply, or real GDP. The positive association between price level and real GDP in the short run is demonstrated by the upward-sloping aggregate supply curve, also known as the short run aggregate supply curve.

Price, time, employer remuneration, technical breakthroughs, inflation and deflation, governmental rules, and the availability of resources are some of the variables that influence the aggregate supply curves.

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A study has been conducted to determine if Product A should be dropped. Sales of the product total $224,000 per year; variable e

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Answer: Decrease by $11,200 per year.

Explanation:

First let's calculate the income if the product is not dropped.

Calculting income would be,

= Sales - Variable Costs - Fixed Costs

= 224,000 - 156,800 - 100,800

= -$33,600

Income(loss) would be a ($33,600) if the product is kept.

If the product is discontinued, it is given that $44,800 in fixed costs will still continue.

These fixed costs cannot be covered in part by the Sales because the product will be discontinued. So that means the net operating Income would simply be a $44,800 loss.

The difference between these 2 options is therefore,

= 44,800 - 33,600

= $11,200

This means that if Product A is stopped, the net operating income will decrease by a further $11,200 because there is no revenue to cover the fixed assets in part. The last option is correct.

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3 years ago

Suppose your firm has a marginal revenue given by the equation MR = 10 - Q where Q is the quantity produced and sold. This means

KonstantinChe [14]

Answer:

The answer is: A) When the marginal cost of producing an additional unit equals the marginal revenue from that unit.

Explanation:

In economics, we assume that a company´s main goal is to maximize its profit. In order for any company do to this, the marginal cost (MC) of producing an extra unit of production must equal the marginal revenue (MR) obtained by selling that extra unit of production.

Theoretically, in perfect market conditions, MR=MC in the equilibrium point between quantity supplied and quantity demanded. But on real world conditions elasticity of both demand and supply alter the curves.

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3 years ago

Consumers often seek bargains by purchasing goods in large quantities; for example, buying in bulk at Costco or buying larger bo

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Answer:

The correct answer is the option B: second-degree price discrimination.

Explanation:

To begin with, the term of price discrimination, in marketing and economics, refers to the action of charge different prices to different consumers for the same product that do not vary in quality. This concept states fourth differents degrees in order to use the most beneficial strategy to one's company.

To continue,<em> the second-degree price discrimination</em> establishes that companies price products differently based on the preferences of various groups of consumers and furthermore it is very common to <u>apply this type of discrimination through quantity discounts</u> and to add an example, is very common to use this strategy in <u>warehouse retailers such as Costco.</u>

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4 years ago

Chegg - Discuss the differences of productivity measurement in service and manufacturing. Why is productivity improvement more d

Svetllana [295]

Explanation:

The measurement of productivity in service and manufacturing is different in the sense of the ability to measure productivity, as a service has different characteristics that are Intangibility, Inseparability, Variability and Perishability, it is more difficult to measure its productivity, for example, a service is variable, so even if there are standards for the provision of that service, there are issues that will vary and this can change productivity.

There is also the fact that if the productivity measured by the capacity in the service sector is influenced by the loss of quality of the same, as customers may feel hurt if there is a rush in a service provided, for example, so that the service is more productive .

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3 years ago

Suppose you were assigned the task of choosing a price that maximized economic surplus. What price would you choose? Why? A.

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Answer:

C. Choose the price where the quantity demanded equals the quantity supplied because that is the equilibrium condition.

Explanation:

The equilibrium price is the most ideal because at this price the consume is willing to buy, if price goes above this the consumer may look for an alternative and this will further increase surplus.

Also when there is surplus the suppliers will find a way to sell competitively at the equilibrium price.

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3 years ago

FILL IN THE BLANK. aggregate supply curves are___for low levels of output, and___for high levels of output.

FILL IN THE BLANK. aggregate supply curves are_for low levels of output, and_for high levels of output.