Answer:
A) Q=17
B) $80
C) 518
Explanation:
C(Q) = 60 + 12Q + 2Q2
and its MC = 12+ 4Q
a.How much output should the firm produce in the short run?
Put P = MC and solve for Q
P＝MC
80=12+4Q
4Q=68
Divide both sides of the equation by 4
Q=17
b.What price should the firm charge in the short-run? $80
c.What are the firm’s short-run profits?
Hint:
Profit=Total Revenue-Total CostTotal Revenue=$80x17=1360
TotalCost=60+12x17+2(17)2=60+204+578=842
Profit=1360-842=518
Answer and Explanation:
Protectionist policies followed by the government will lead to lack of competition for domestic firms in the market. When there is lack of competition for domestic firms in the market, this will make the firms inefficient in the long run in the country which has imposed protectionist policies. When the firms become inefficient, there will be less job creation in the jobs market and demand for labor will also reduce because of fall in profits of the firm. When profits fall, the firms will not be interested in providing safe working conditions to its employees because it will increase their cost of production reducing profits further. Thus, protectionist policies can lead to fewer jobs, lower wages or poor working conditions for the firm.
Answer:
d.$56,000
Explanation:
For computing the cost of counting, first we have to calculate the total salary amount which is shown below:
Total Salary = Average salary × number of employees
= $35,000 × 4 employees
= $140,000
Now the cost of counting would be equal to
= Total salary × counting percentage
= $140,000 × 0%
= $56,000
Answer:
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
Explanation:
