Answer:
Demand Curve is same as Average Revenue (AR) curve.
Total Revenue, Marginal Revenue, Average Revenue have been solved below
Explanation:
The demand curve that Vesoro faces is identical to 'Average Revenue' <u>curve</u>. As, AR curve represents average price (P) buyers are willing to pay for a quantity of a commodity.
Average Revenue (AR) is total revenue (TR) per unit quantity. AR = TR/ Q. Total Revenue is the total revenue for all quantities, TR = P x Q
So, Average Revenue = (P x Q) / Q = P ie price. This states that average price willingness to pay is same as AR, demand curve is AR curve.
Assuming perfect competition constant price = $5
Q P TR= PxQ AR= TR /Q MR (marginal revenue = TRn -TRn-1)
0 5 0 0 _
1 5 5 5 5
2 5 10 5 5
3 5 15 5 5
Answer:
Consumer Price Index for Urban Wage Earners and Clerical Workers
1. You will get $16,875.
Explanation:
a) Data:
Last year's Medicare allowance = $15,000
CPI last year = 144
CPI this year = 162
Calculation:
This year's Medicare allowance = $16,875 ($15,000/144 x 162)
Another way of working out this year's allowance for my grandmother is to calculate the percentage increase. This amounts to an increase of 12.5% (162 - 144)/144
This shows that the CPI increased by 12.5% and the Medicare allowance will also increase by 12.5%
Thus, the Medicare allowance for this year will be $16,875 ($15,000 x 1.125)
Answer:
The correct answer is option A.
Explanation:
Menu costs can be defined as the cost which is incurred by the firms because of changing prices. The size of the menu costs depends upon the type of firm.
There are some costs involved in printing menus, price lists, brochures, catalogs, and price tags, etc.
The concept of menu costs was given by Eytan Sheshinski and Yoram Weiss in 1977. It is used to explain price stickiness in a market.
In case the current price differs from the equilibrium price, the firms will change their price only if the additional revenue from a price change is able to cover menu costs incurred due to price change
Answer:
34.04%
Explanation:
Data provided :
Total sales of the Springfield Club = $ 920,000
The net operating income of the company = $ 34,040
The average operating assets of the company = $ 100,000
now,
The return on investment will be calculated as:
Return on investment (ROI)= 
on substituting the values, we get
ROI = 
or
ROI = 34.04%
Here are my workings:
The answer would be= 1250/11 OR 113.6363636
I hope it helped you!
