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Scorpion4ik [409]
2 years ago
12

A competitive firm produces output using three fixed factors and one variable factor. The firm's short run production function i

s q = 305x - 2x2; where x is the amount of variable factor used. The price of output is $2 per unit and the price of the variable factor is $10 per unit. In the short run, how many units of x should the firm use?(a) 37(b) 150(c) 21(d) 75(e) None of the above.
Business
1 answer:
Nesterboy [21]2 years ago
6 0

Answer:

D) 75

Explanation:

Our initial production function is:

q = 305X - 2X²        

we calculate the derivative of q:

(q') = 305 - 4X

MP = 305 - 4X

$10 / $2 = 305 - 4X

5 = 305 - 4X

4X = 305 - 5 = 300

x = 300 / 4

x = 75

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3 years ago
Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost April 2 Purc
Lelechka [254]

Answer:

a. Gross Profit =$89, Ending Inventory = $640

b. Gross Profit =$83, Ending Inventory = $631

c. Gross Profit =$86, Ending Inventory = $634

Explanation:

FIFO

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                      $403

Less Cost of Sales ( 1 unit × $314) ($314)

Gross Profit                                       $89

<u>b. Ending Inventory</u>

Ending Inventory = Units Left × Earliest Price

                            = 2 units × $320

                            = $640

LIFO

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                        $403

Less Cost of Sales ( 1 unit × $320) ($320)

Gross Profit                                         $83

<u>b. Ending Inventory</u>

Ending Inventory : 1 unit × $314 =  $314

                               1 unit × $317 =  $317

                              Total              =  $631

Weighted Average Cost method

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                      $403

Less Cost of Sales ( 1 unit × $317) ($317)

Gross Profit                                       $86

<u>b. Ending Inventory</u>

Ending Inventory = Units Left × Average Price

                            = 2 units × $317

                            = $634

4 0
3 years ago
Services differ from manufacturing for all of the following reasons EXCEPT: a. Heterogeneity b. Time-perishable capacity c. Simu
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Answer:C. Simultaneous production and consumption.

Explanation:

Production and consumption occuring at the same time will not make products to differ.

Heterogenity which refers to different qualities in firms will lead to different products. Time perishable capacity which means idle time during low patronage will still allowed products differences, Abilities to limit the discretionary input of personnel will not debar product differences and Customer provides significant input into the process will allowed products differences.

4 0
3 years ago
A process cost accounting system is most appropriate when
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Answer:

When Manufacturing of a Product involves several processes.

Explanation:

When several processes are involved in manufacturing a product, costs need to be accumulated in these processing departments. Thus, A process cost accounting system is most appropriate

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3 years ago
Alex just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's decidin
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Answer:

1.  Medium of exchange, 2. Unit of Account and 3. Store of value

Explanation:

Please see attachment

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