Answer:
Explanation:
C(q) = 100+10q-q^2+(1/3)q^3
To find the firm marginal cost function:
Take the derivative with respect to q
MC = 10 - 2q + q^2
Assuming that the market price is p , then the profit maximising condition is:
MR = MC
p = 10 - 2q + q^2
The short-run supply curve is the marginal cost curve that lies above the average variable cost.
The average variable cost is:
AVC =VC/Q
AVC = (10q-q^2+(1/3)q^3)/Q
AVC = 10 - q + (1/3)*q^2
So, the short-run supply curve is:
SRS = 10 - 2q + q^2 if p > 10 - q + (1/3)*q^2
Answer:
$500 shrinkage
Explanation:
Calculation to determine the amount of shrinkage occurred during the month
Using this formula
Shrinkage=Ending inventory-Actual count
Let plug in the formula
Ending inventory=$10,000 + $35,000 - $30,000 Ending inventory= $15,000
Shrinkage=$15,000 - $14,500
Shrinkage= $500
Therefore the amount of shrinkage occurred during the month is $500
-Whenever countries have different opportunity costs in production they can benefit from specialization and trade.
-Benefits of specialization include greater economic efficiency, consumer benefits, and opportunities for growth for competitive sectors.
