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4 years ago

How do people earn income?

2 answers:

8 0

People earn income by working at a business or having a job, and having the correct amount of hours by the end of the week or the next pay roll.

Sergio039 [100]4 years ago

5 0

Answer:

People earn income by receiving more money then they spend on other things for the business.

Explanation:

Like if you had a cupcake shop you would need to sell a lot of cupcakes and get money. With that money you may go to the store and buy batter and other cupcake making things and whatever money you have left over after spending it on things for the business is your income or money you have left for yourself.

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3 years ago

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4 years ago

If the inverse demand function for a monopoly's product is p = 100 2q, then the firm's marginal revenue function is a. 200 - 4q.

liq [111]

If the inverse demand function for a monopoly's product is p = 100 2q, then the firm's marginal revenue function is 200 - 2q. Price becomes a function of quantity demanded in the case of an inverse demand curve. The inverse of a demand curve, this indicates that variations in the amount required cause changes in price levels.

The formula for calculating the demand curve for a product yields the graph of an inverse demand curve. The quantity demanded is a function of price on the demand curve. This aligns the horizontal axis with pricing, with quantity demanded on the vertical axis.

To learn more about demand curve, click here.

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2 years ago

A manufacturing firm has an annual demand of 300,000 units. Using its current operation, the firm pays $800,000 in annual fixed

Elodia [21]

Answer:

It is cheaper to make the units in-house by $300,000.-

Explanation:

First, we need to calculate the total avoidable production costs of making 300,000 units:

Total variable cost= 300,000*15= $4,500,000

Total avoidable fixed cost= 800,000 - 200,000= $600,000

Total production cost= $5,100,000

Now, the total differential cost of buying:

Cost of buying= 300,000*18= $5,400,000

It is cheaper to make the units in-house.

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3 years ago