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3 years ago

If output equals a*(5k + 2l), what is output if a equals 2,000, capital equals 10, and labor equals 100?

1 answer:

5 0

We know that: a = 2,000, c = 10, l = 100
The formula is: a * ( 5 c + 2l )
So when we charge the values:
2,000 * ( 5 * 10 + 2 * 100 ) =
= 2,000 * ( 50 + 200 ) =
= 2,000 * 250 = 500,000
Answer: The output is 500,000.

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3 years ago

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The Coase theorem states that A) the private sector will fail to produce the efficient amount of a public good because of the fr

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Explanation:

One of the problems in economics is the allocation of goods in the presence of externalities. When externalities are present allocation of goods in private market won't be efficient because private parties won't internalize them and would arrive to an inefficient outcome. For many years this was an argument in favor of government intervention.

However, Ronald Coase showed that assigning property rights of the externality to one of the private parties (no matter which one) would result in an efficient outcome. This is because the parties with the property right would then internalize the cost. Then in the bargaining process private parties would reach an efficient outcome without the intervention of the government.

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2 years ago

Suppose that a consumer has a health insurance program with co-payments of $10 per doctor visit. If the consumer purchases 6 doc

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Answer:

$300

Explanation:

Given that s a health insurance program with co-payments of $10 per doctor visit.

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amount paid by insurance in 1 visit = $10

Amount paid by insurance in 6 visit = $10*6 = $60

Total bill charged by the doctor in 6 visit = 360

Amount paid by the consumer = Total bill charged by the doctor in 6 visit - Amount paid by consumer in 6 visit = $360 - $60 = $300

Since , consumer is the third party payer he pays $300 out of total $360 bill charged by the doctor.

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3 years ago

Frazier Company sells women's ski jackets. The average sales price is $272 and the variable cost per jacket is $122. Fixed Costs

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Answer:

b. $2,205,000

Explanation:

We know,

Contribution Margin = Sales (Revenues) - Variable Cost (expense)

Contribution margin is the difference between sales and variable cost.

Given,

Sales per unit = $272

Variable cost per unit = $122

Sales volume (Number of Ski Jackets) = 14,700 jackets

Now, we use contribution margin format income statement to determine the contribution margin for 14,700 jackets.

Sales ($272 × 14,700 jackets) $3,998,400

<u>Less: Variable expense ($122 × 14,700 jackets) $(1,793,400)</u>

Contribution Margin [($272 - 122) × 14,700 jackets] = $2,205,000

Therefore, option B is the answer.

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3 years ago

Which of the following is not associated with firms following the global standardization strategy? A. Low pressures for local re

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Answer:

The correct option is D. Customize product offering and marketing strategy to local conditions

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Global standardization strategy refers to the ability to use a particular standard of marketing internationally. In other words, it's the ability for an organization to use the same marketing strategy from one country to another country, and across various cultures.

What this means is that an organisation using the global standardization strategy will treat the world as largely one market and one source of supply with little local variation.

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