All categories

3 years ago

Define the role of the mathematical concepts of maximization and equilibrium in microeconomic theory.

Business

1 answer:

labwork [276]3 years ago

8 0

Answer:

Functions and graphs are two mathematical concepts that are heavily used in microeconomics.

Explanation:

1. Functions

Economics is full of functions: manufacturing functions, distribution functions, parameter values, components for welfare programs, and so on. A function is indeed a connexion between several sets of data, such that the second set correlates exactly to one variable for each value in one collection.

2. Graphs

By visualising it in a graph we can enhance the innate knowledge of a practices and organisational performance. In a chart, independent variable effects are generally read off the horizontal axis, and the dependent variable effects are generally read off another vertical axis. And for variables, each position in the line matrix correlates to a set of variables

You might be interested in

On January 1, 2022, Skysong, Inc. purchased equipment for $44280. The company is depreciating the equipment at the rate of $620

Svetllana [295]

On December 31, 2022, the book value of the equipment comes out to be $36,840 with monthly depreciation of $620.

Option D is the correct answer.

<h3>What is meant by depreciation?</h3>

Depreciation is a method that applies to tangible fixed assets where the fall in the value of an asset has been recorded.

Given values:

The purchase cost of equipment: $44,280

Monthly depreciation: $620

Step-1 Computation of annual depreciation charges:

$\rm\ Annual \rm\ depreciation=\rm\ Monthly \rm\ depreciation \times \rm\ Number \rm\ of \rm\ months \rm\ in \rm\ a \rm\ year\\\rm\ Annual \rm\ depreciation=\$620 \times\ 12\\\rm\ Annual \rm\ depreciation=\$7,440$

Step-2 Computation of book value of the equipment at the year-end:

$\rm\ Equipment's \rm\ Book \rm\ value=\rm\ Purchase \rm\ Cost \rm\ of \rm\ Equipment-\rm\ Annual \rm\ Depreciation \\\rm\ Equipment's \rm\ Book \rm\ value=\$44,280-\$7,440\\\rm\ Equipment's \rm\ Book \rm\ value=\$36,840$

Therefore, when the company purchases equipment at $44,280 with annual depreciation is $7,440, then the equipment's book value comes out to be $36,840 at the year-end.

Learn more about the depreciation in the related link:

brainly.com/question/14682335

#SPJ1

3 0

2 years ago

Lily created comment cards to give to customers during the month of July. She takes all the feedback she received and determines

const2013 [10]

She works in marketing. Apex:)

8 0

3 years ago

Read 2 more answers

Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $13,400. Of

Rufina [12.5K]

Answer:

a.$3.35

Explanation:

The first step in determining conversion cost per unit is to calculate the Total Equivalent units of production for Conversion Costs.

Conversion Costs

Units Completed and transferred (15,000 × 100%) = 15,000

Units in Ending Work In Process (3,000 × 75%) = 2,250

Total Equivalent units of production = 17,250

The next step is to determine the total conversion cost of production incurred during the period.

Conversion Costs

Conversion Costs in Beginning Work In Process $4,800

Conversion Costs added during the period ($33,000 + $20,000) $53,000

Total Conversion Costs $57,800

Finally calculate the conversion cost per unit

Conversion cost per unit = Total Conversion Costs / Total Equivalent units of production

= $57,800 / 17,250

= $3.35 (to the nearest cent)

4 0

4 years ago

A perfectly inelastic supply curve means that … a) a shift in demand will cause the quantity supplied to increase to infinity. b

Jet001 [13]

Answer: A perfectly inelastic supply curve means that the quantity supplied is completely fixed.

Perfectly inelastic supply states that supply is completely fixed. Therefore it is not affected by the change in price level.

Therefore, the correct option in this case is (e)

5 0

4 years ago

Company J must choose between two alternate business expenditures. Expenditure 1 would require a $80,000 cash outlay and Expendi

Tanya [424]

Answer:

A. 25%

B. 50%

C. 48000 after tax cash flow

Explanation:

a. lets assume marginal tax rate is X%

After tax cash flow of 80000 should equal to 60000$

$80000 - [$80000*X%] = 60000$

80000*X% = 80000-60000

80000*X% =20000

X = 20000/80000

= 25%

$80000 - [$80000*50%*x%] = 60000$

40000*x%=20000

x%=50%

$80000- [$80000*x] = 60000 - [60000*50%*x]

80000-60000 = [80000*x] - [30000*x]

20000 = 50000x

x=40%

check

80000-40% =48000 after tax cash flow

60000*50%

=60000- [60000*50%*40%]

=48000 after tax cash flow

6 0

3 years ago