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Mazyrski [523]
3 years ago
15

Consider a firm operating in a competitive market. The firm is producing 40 units of output, has an average total cost of produc

tion equal to $6, and is earning $240 economic profit in the short run. What is the current market price?
Business
1 answer:
bekas [8.4K]3 years ago
8 0

Answer:

Current market price is $12

Explanation:

Total cost of production of 40 units output is 40×$6=$240

Profit=Total sales - total cost

Total sales= profit+total cost= $240+$240= $480

Market price=$480/40=$12

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ElenaW [278]

Most likely a two year college, so a local community college nearby is a good option. It's also a lot cheaper than a traditional university.

3 0
3 years ago
Read 2 more answers
For each of the following statements, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each
zlopas [31]

Answer:

Please find the diagrams in the attached images

Explanation:

A) If a surgeon warns that high-cholesterol foods cause heart attacks, the demand for eggs would fall because eggs are high in cholesterol. The fall in demand would shift the demand curve to the left , price and quantity would fall.

B. Complementary goods are goods consumed together. If the price of a complementary good falls, the demand for the other good increases. If the price of bacon falls, the demand for eggs would increase. The demand curve would shift to the right, the price and quantity would increase.

C. If the price of chicken feed increases, the cost of producing eggs increases and the quantity supplied falls. The supply curve shifts to the left, prices rise and quantity falls.

D. If Caesar salad becomes more trendy, the demand for eggs increases. The demand curve shifts to the right, price and quantity increases.

E. Technological innovation would increase the quantity supplied. The supply curve would shift to the right, price falls and quantity increases.

I hope my answer helps you

3 0
3 years ago
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these prod
adoni [48]

Answer:

Given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

Explanation:

Since the Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators, and both of these products require wiring and testing during the assembly process, and each generator requires 2 hours of wiring and 1 hour of testing and can be sold for a $ 250 profit, while each alternator requires 3 hours of wiring and 2 hours of testing and can be sold for a $ 150 profit, and there are 260 hours of wiring time and 140 hours of testing time available in the next production period and Electrotech wants to maximize profit, to determine this situation the following mathematical logical reasoning must be carried out:

260/2 = 130

140 - 130 = 10

130 generators = 32,500

Thus, given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

4 0
2 years ago
Measuring employment, unemployment, and labor force participation
ch4aika [34]

Answer and Explanation:

The classification is as follows

a. The Dmirti is considered to be employed as she is working part-time

b.France is considered to be unemployed as currently he hasn't had a job he is still looking for a job

c. Jake is not in the labor force as he is so discouraged and due to which he gave up for job search

d. Rosa is considered to be unemployed as currently she has not have any job and currently she is looking for a job

e. Nick is to be considered as an employed as he is currently working

f. Latasha is to be considered in not in the adult population as she is just 12 year old student

7 0
3 years ago
A property manager is renovating a landlord's apartment complex. The carpet supplier has promised to give the property manager S
IceJOKER [234]

Answer:

B. will be guilty of taking a secret profit if he does not disclose to the landlord

Explanation:

Acceptance of any gifts or payments in return for fixing up a contract and or acting as a middleman in negotiating a deal constitutes a bribe or a kickback.

In the given case, the carpet seller is willing to give project manager, super bowl tickets in return for facilitating the large order from the landlord.

Here, the landlord is not aware of this scheme and if the property manager accepts such gifts without informing the first party i.e the landlord, would amount to making secret profits.

Thus, in compliance with right ethical practices, it is the duty of the project manager to inform the landlord of the gift and it's nature before accepting any of those.

5 0
3 years ago
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