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djyliett [7]
4 years ago
11

Bob's lawn-mowing service is a profit-maximizing, competitive firm. Bob mows lawns for $30 each. His total cost each day is $250

, of which $50 is a fixed cost. He mows 5 lawns a day. In the short run, Bob should_________ . In the long run, Bob should___________ the industry.
Business
1 answer:
lakkis [162]4 years ago
8 0

Answer:

In this case, the unitary variable cost is higher than the selling price.  In the short run, Bob should leave the industry.

Explanation:

Giving the following information:

Earning a day= 30*5= $150

Unitary variable cost= (250 - 50)/5= $40

Fixed costs= $50

The general rule is that if the selling price is higher than the unitary variable cost, in the short run the company should continue operations. If this situation continues, in the long run, the company should stop operations.

In this case, the unitary variable cost is higher than the selling price.  In the short run, Bob should leave the industry.

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Suppose the demand function for avocados is Q = 104 - 40p + 20tp + 0.01Y, where p is the price of avocados, pt is the price of t
LiRa [457]

Answer: equilibrium price = 4

Quantity of avocado = 110units

Explanation:

Q = 104 - 40p + 20tp + 0.01Y........eq1

Q = 58 + 15p - 20pf...........eq2

pt = $0.80,

Y = $4,000,

pf = $0.40

From eqn1 substituting of into it

Q = 104 - 40p + 20($0.80) + 0.01($4000)

= 104 - 40p + 16 + 40

= 160/40p

p = 4 equilibrium price

From eqn2. Substituting p and pf into it.

Q = 58 + 15p - 20pf

Q = 58 + 15(4) - 20($0.40).

Q = 58 + 60 - 8

Q = 110 quantity of avocado

8 0
4 years ago
What kinds of unemployment is Naomi experiencing if she has a degree in a field that is experiencing a great deal of growth at t
saveliy_v [14]

Answer:

<em>Naomi experiences Frictional Unemployment due her movement to a new city.</em>

Explanation:

Although Naomi has a degree in a field that is experiencing a great deal of growth, her movement causes her to remain unemployed, not because she has no skill but because of the difference in the job and worker demand and supply between these two places, that is characteristic of frictional unemployment. <em>Frictional unemployment is a type of unemployment that is based on the unemployed person's circumstances</em>. It can be <em>as a result of the person trying to find a better job or as a result of the person moving from an old place to a new place</em>. This type of unemployment exists because jobs and workers have their differences, creating a type of mismatch between the supply and demand of jobs and workers.

4 0
4 years ago
A ________ rate means the value of the currency is fixed relative to a reference currency and then the exchange rate between tha
Harlamova29_29 [7]

Answer:

Pegged exchange rate system

Explanation:

In the pegged exchange rate system, a country ties its currency exchange price to that of a more widely used currency at a fixed rate. The US dollar is the most accepted currency for international trade. Countries that use the fixed exchange system peg their currency price to the US dollar.   The government will set a  fix the exchange rate of its currency relative to the US dollar value.

A pegged exchange rate is also known as a fixed exchange rate. A pegged or fixed exchange rate keeps the currency value within a narrow range. It gives certainty to exporters and importers and helps the government to keep inflation low.

4 0
4 years ago
Read 2 more answers
Wassonâs Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.
vaieri [72.5K]

Answer: 71%

Explanation:

The Budgeted material loading charge was 84% of material cost of $1,268,000.

Yet the actual loading cost was $164,840 which means that actual loading cost percentage is:

= 164,840 / 1,268,000 * 100%

= 13%

Profit margin = Budgeted percentage - Actual percentage

= 84% - 13%

= 71%

7 0
3 years ago
Grievances are official complaints made by employees regarding an issue that they feel is wrong or unfair. Grievances are usuall
sesenic [268]

Answer:

Mediator

Explanation:

Mediation is sad to be Neutral third party in dispute settlement. The mediator is saddle with the responsibility by assisting the disputing parties to reach their own agreement.

Mediator role is to analyze and asses critical situations and design intervention to cancel or fault the causes of conflict.

Grievance Mediation is a type of mediation used to settle conflict, grievance or disagreement in relation to union grievances in an organized labor setting.

Advantages of Grievance Mediation includes high settlement rates, high satisfaction, facilitates communication and others.

4 0
3 years ago
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