Leadership skills,knowledge of a foreign language
Answer: 15000; 3750
Explanation:
From the question,
Q = 660 – 12P
MC = 5
The consumer surplus in a perfectly competitive market will be:
P = MC
Therefore, P = 5
Q = 660 - 12P = 660 - 12(5) = 660 - 60 = 600
Consumer surplus = 1/2 × (55 - 5) (600)
= 1/2 × 50 × 600
= 15,000
For monopoly, MR = MC
Total Revenue = P × Q
Since Q= 660 - 12P
P = (660 - Q)/12
TR = P × Q
= (660 - Q)/12 × Q
= (660Q- Q²)/12 × Q
MR = (660 - 2Q)/12
MR = MC
(660 - 2Q)/12 = 5
(660 - 2Q) = 5 × 12
660 - 2Q = 60
2Q = 660 - 60
2Q = 600
Q = 600/2
Q= 300
Since P =(660 - Q)/12
= (660 - 300)/12
= 360/12
= 30
Consumer surplus = 1/2 × (55 - 30) (30)
= 1/2 × 25 × 300
= 3750
Therefore, the answer is 15000; 3750
Answer:
Topeka
The City of Topeka, located 60 miles west of KC Metro area, serves as both the state capital of Kansas and the county seat of Shawnee County, Kansas. Topeka is the fifth largest city in Kansas behind Wichita, Overland Park, Kansas City, and Olathe. The land within the City covers about 62.67 square miles.
Answer:
$664,000
Explanation:
The computation of the budgeted total manufacturing cost is shown below:
Budgeted total manufacturing costs is
= Fixed cost + Variable cost
= $24,000 + ($16 × 40,000 linear feet of block)
= $24,000 + $640,000
= $664,000
We simply added the fixed cost and the variable cost so that the total budgeted manufacturing cost could come
