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3 years ago

Suppose a perfectly competitive firm's total cost of production (TC) is:

Business

2 answers:

Ksivusya [100]3 years ago

8 0

Answer:

P = 3q^2 - 8q + 60 for prices above $56

Explanation:

The firm's short run supply curve is the portion of its marginal cost curve. The firm's marginal cost of production is the change in its total cost of production from producing one additional unit. The firm's short run supply curve lies above its average variable cost curve. If the price in market rises the firm will sell more products. The short run supply curve is upward sloping because quantity supplied increases when the prices are increased.

deff fn [24]3 years ago

7 0

Answer:

The firm's short-run supply curve is P = 3q^2- 8q + 60 for prices above $56

Explanation:

Given Data;

TC(q) = q^3 - 4q^2 + 60q + 15

MC = 3q^2 - 8q + 60

But,

Fixed Cost, FC = TC(0) = 15

Therefore, the variable cost becomes

VC(q) = TC(q) - FC

= q^3 - 4q^2 + 60q

Since average variable cost = VC(q) /q, the equation becomes;

AVC(q) = VC(q)/q

= (q^3 - 4q^2 + 60q)/q

= q^2 - 4q + 60

When the curve is at a minimum point, AVC'(q) = 0

Therefore,

q2 - 4q + 60 = 0

2q - 4 + 0 = 0

2q = 4

q = 4/2

q = 2

Since q = 2,

AVC(2) = 22 - 4*2 + 60 = 4 - 8 + 60 = $56

Therefore, the short-run supply curve of the firm is P = 3q2- 8q + 60 for prices above $56

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Following are financial data from year-end financial statements of Portland Company for 2017, 2016 and 2015.

denpristay [2]

Answer:

Answers are calculated below

Explanation:

Financial ratios can be calculated according to their formulas. Both formulas and calculation are as follows

CURRENT RATIO

Current ratio = Current assets/current liabilities

Current ratio (2016) = $360,000/$250,000

Current ratio (2016) = 1.44

Current ratio (2017) = $450,000 / $300,000

Current ratio (2017) = 1.50

ACID RATIO

Acid ratio = (Current asset - inventory)/current liabilities

Acid ratio (2016) = (360,000 - 165,000)/250,000

Acid ratio (2016) = 0.78

Acid ratio (2017) = (450,000-225,000)/300,000

Acid ratio (2017) = 225,000/300,000

Acid ratio (2017) = 0.75

INVENTORY TURNOVER RATIO

Inventory turnover ratio = cost of good Sold / Average inventory

Inventory turnover ratio (2016) = 864,000/(360,000 ÷2)

Inventory turnover ratio (2016) = 864,000/180,000

Inventory turnover ratio (2016) = 4.80

Inventory turnover ratio (2017) = 1,023,750 / ( 390,000 ÷ 2)

Inventory turnover ratio (2017) = 1,023,750 / 195,000

Inventory turnover ratio (2017) = 5.25

DAYS SALE IN RECEIVABLE

Days sale in receivable = 365/Average receivable turnover ratio

Days sale in receivable (2016) = 365/ 12.67(w1)

Days sale in receivable (2016) = 28.81 days

Days sale in receivable (2017) =365/11.7(w1)

Days sale in receivable (2017) = 31.20 days

Working 1

Account receivable turnover ratio = Sales/ Average receivable

Account receivable turnover ratio (2016) = 1,752,000/138,288(w2)

Account receivable turnover ratio = 12.67 times

Account receivable turnover ratio (2017) = 1,642,500/140,351(w2)

Account receivable turnover ratio (2017) = 11.7 times

Working 2

Average receivable = (Opening + Closing) /2

Average receivable (2016) = (132,000 + 144,576) /2

Average receivable (2016) = 138,288

Average receivable (2017) = (144,576 +136,125 ) /2

Average receivable (2017) = 140,351

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3 years ago

If an employee sits down with a supervisor and sets a goal to reduce waste on the assembly line by 3%, the reward the supervisor

FrozenT [24]

Answer:

Bonus.

Explanation:

Just as the name sounds, so is it an additional pay that is been given to an employee seen to appear above their regular earnings, this bonus is seen to be used by many organizations in different forms are categorically given to employees or a team that achieves significant goals. This little pay go a very long way in the life, performance and output of a team or employee. Also, employee morale, output and also motivation. Due to the positive returns from this act, a lot of organisations tends to practice this ritual consistently because every goal or target reached by an employee or or team brings the organisation closer to success.

6 0

3 years ago

Carl is furious that the elderly get special senior-citizen discounts on goods and services while young people don't. The name f

densk [106]

Answer: Intergenerational equity

Explanation: Equity simply preaches fairness whereby the allocation and sharing of resources, privilege and other related issues is devoid of partiality. Intergenerational equity looks into the idea of fairness between members of certain generations and age groups whereby the resource allocation and privilege afforded to individuals is devoid of favoritism on the basis of age group or generation. In the scenario above, Carl is of the opinion that intergenerational equity should be in play such that benefits afforded to elderly also incorporates the youth.

3 0

3 years ago

Lego, Inc., issued common stock in Year 1. It issued 10,000 shares of 8%, $100 par value cumulative preferred stock for $110 per

Arisa [49]

Answer: $160,000

Explanation:

Given the following:

Par value = $100

Rate of Dividend = 8% = 0.08

Number of shares = 10,000

Preferred Dividend is calculated thus:

Par value * rate of Dividend × number of preferred stock

$100 × 0.08 × 10,000 = $80,000

Since year 4 Dividend wasn't paid

Total year 5 Dividend equals:

(Year 4 Dividend + year 5 dividend)

$(80,000 + 80,000) = $160,000

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3 years ago

Which of the following is true about production and logistics in international businesses?a) The term production cannot be used

Lesechka [4]

Answer: The following is true about production and logistics in international businesses: <u><em>In an international firm, production and logistics are closely linked.</em></u>

Production and logistics play a vital role in a organization especially if it acts on international grounds. Production is determined by the forces of demand and supply whereas the logistics is the elaborated structure and implementation of a analyzable business activity. It is the administration of how things are directed between origin and consumption in order for the organization to meet demand of customers.

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3 years ago

Suppose a perfectly competitive​ firm's total cost of production​ (TC) is:

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