Answer:
Demand decreased and supply increased.
Explanation:
In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted.
Demand and supply have also been generalized to explain macroeconomic variables in a market economy, including the quantity of total output and the general price level. The aggregate demand-aggregate supply model may be the most direct application of supply and demand to macroeconomics, but other macroeconomic models also use supply and demand. Compared to microeconomic uses of demand and supply, different (and more controversial) theoretical considerations apply to such macroeconomic counterparts as aggregate demand and aggregate supply. Demand and supply are also used in macroeconomic theory to relate money supply and money demand to interest rates, and to relate labor supply and labor demand to wage rates.
Answer:
a. The effect of government regulation on a monopolist's production decisions: microeconomics
b. The government's decision on how much to spend on public projects: macroeconomics
c. The effects of the Internet on the pricing of used cars: microeconomics.
Explanation:
Le re-visit the concept of microeconomics and macroeconomics before we apply them to solve the problem.
Microeconomics studies about the behavior of players and how players in the economy ( individuals, households, firms) making decision of resources allocation, how they interact with one another. Thus, it usually studies about market of goods and services.
Macroeconomics studies about economy as a whole, that is, its structures, performances, behavior ( e.g: inflation, unemployment, GDP growth)
a. is microeconomics because it is about how monopoly firms decide its production level given changes in government's regulations.
b. is macroeconomics because it is about public spending ( spending for the whole economy)
c. is microeconomics because it is about how market of used cars is affected ( in term of pricing) as sellers and buyers have new ways of delivering/finding information and connections.
Answer:
Contribution margin per composit unit is $56
Explanation:
Composit unit are the unit of sales which is made by combining multiple products. They are sold as a package. Their costs are calculated calculated.
Product Unit S. Price V. Cost / unit CM / unit No. of unit
Regular $20 $8 $16 1
Ultra $24 $4 $20 2
Composit Margin per unit = ( 1 x CM per unit Regular ) + ( 2 x CM per unit Ultra )
Composit Margin per unit = ( 1 x $16 ) + ( 2 x $20 )
Composit Margin per unit = $16 + $40
Composit Margin per unit = $56
Answer:
3 Sales people
Explanation:
The calculation of total cost per shift is shown below:-
1st sales 2nd sales 3rd sales 4th sales
person person person person
Average Waiting
Time 10 minutes 6 minutes 3 minutes 2 minutes
Total waiting
Cost $720 $432 $216 $144
(72 × $1 × 10) (72 × $1 × 6) (72 × $1 × 3) (72 × $1 × 2)
Add: Total labor
Cost 80 $160 $240 $320
($80 × 1) ($80 × 2) ($80 × 3) ($80 × 4)
Total cost $800 $592 $456 $464
Thus, 3 servers have the lowest cost, so that the overall cost per change with 3 Sales people is chosen.
Answer:
b. The cable commercial
Explanation:
CPM or cost per mille is a measure used in advertising to determine how effectively a promotional message is getting to its audience. It is the cost of getting an advert in front of 1,000 people.
In this scenario when we calculate CPM for the radio station
$600 = 10,250 listeners
x= 1,000 listeners
Cross multiply
x= (600 * 1,000) ÷ 10,250 = $58.54
For the local cable commercial
$1000 = 18,500 viewers
y = 1,000 viewers
Cross multiply
y= (1,000 * 1,000) ÷ 18,500= $54.05