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Georgia [21]
3 years ago
10

Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be repre

sented as p = 5 - (1/2)q where p is price in $ per hour and q is hours per month. The firm faces a constant marginal cost of $1. Potential consumer surplus equals
a. $16.
b. $4.
c. $8.
d. $32

Business
1 answer:
Brilliant_brown [7]3 years ago
6 0

Answer:

a. $16.

Explanation:

the firm offer a price where marginal revenue = marginal cost

We have to solve at which quantity the price is $1.

There, the marginal revenue would match the marginal cost.

1 = 5 - 0.5q

q= (5 -1) /0.5 = 4/0.5 = 8

Now, we solve or the price at which quantity is zero:

p = 5 - 0.5(q) = 5 - 0 = 5

With that we can now solve for the consumer good as the area of the triangle above the marginal cost and below the demand function

(see attached graph)

8 x (5-1) / 2 = 16

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When the US government becomes aware of economic changes, the discovery is most likely to influence 1. how the nation allocates
snow_tiger [21]

Answer:

1. How the nation allocates resources

Explanation:

Government is the chief decision maker in any economic model because their power enables to allocate nation`s resources among economic unit. As such they keep watch on the economic changes and trends in order to make the best economic decision for the nation. When government becomes aware of economic changes, it will try to allocate resources efficiently and effectively based on signal given by the changes.

For example, if US government is aware that the economy is nearing recession, it will be put in preventive measures to escape the intending recession and make sure it allocates its scarce in efficient way among the economic units by spending more on capital projects, raising social empowerment spending and doing other necessary things.

So the discovery of economic changes will most likely influence how the nation allocates resources.

5 0
3 years ago
Concord Company uses the FIFO method to compute equivalent units. It has 4000 units in beginning work in process, 20% complete a
Andrej [43]

Answer:

67,840 units

Explanation:

The computation of the equivalent units for material by using the FIFO method is shown below:

<u>Particulars       Unit       Percentage completion   Equivalent units</u>

Opening

inventory       4,000 units     50%                          2,000 units

Completed

& transferred

(67,000

- 5,800)        61,200 units    100%                         61,200 units

Closing  

inventory      5,800 units      80%                         4,640 units

Total                                                                       67,840 units

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Economist robert reich advocates that the outsourcing of productive activities to different suppliers results in the creation of
Digiron [165]

The creation of "Worldwide Products"—items with a global focus—results from the outsourcing of productive tasks to various providers.

<h3>What are Worldwide Products?</h3>

The aggregate gross national income of all the nations in the globe is known as the gross world product (GWP).Because imports and exports are exactly balanced when looking at the entire planet, this also equals the total global GDP. The nominal GWP in 2013 was around 75.59 trillion US dollars, according to the World Bank. The GWP was around $80.27 trillion in nominal terms and was over 127.8 trillion international dollars in terms of purchasing power parity in 2017, according to the CIA's World Factbook (PPP).

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