Answer:
Stating True or False
P > MC, so producing more would mean that the marginal cost increases to match the market price. FALSE
P = AC, so producing more would mean that the average cost would exceed the price reducing profits. FALSE
P = MC, so producing more would mean that the marginal cost would exceed the price reducing profits. TRUE
MR < MC, so producing more would mean that the marginal cost increases to match the market price. FALSE
Explanation:
All profit-maximizing producers accept a market price (P) that is equal to the marginal cost (MC), i.e. (P = MC). At this point, the market price does not exceed the marginal costs (costs of factors of production). When = P > MC, it shows that the benefits of producing more goods exceed the production costs, to the benefit of the society. However, if P < MC, then the social costs of producing the goods exceed the social benefits, signalling that the economy should produce less.
Though I have no experience in business, I would say it is True.
Suppose a worker is offered a wage of $8 per hour, plus a fixed payment of $100 per day, and she can use 24 hours per day. The Market rate of substituion between leisure & income is $8 per day.
Because the budget line FE describes the opportunities available to a worker who has $100 of nonlabor income per week, faces a market wage rate of $10 per hour, and has 110 hours of nonsleeping time to allocate between work and leisure activities This means that the person will choose the level of goods and leisure that lead to the highest possible level of the utility index given the limitations imposed by the budget constraint.
Leisure is the time when you are free from work or other duties and can relax.
Limitations the act of controlling the size or extent of something the act of limiting something.
Budget is a spending plan based on income and expenses.
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Answer
D. 4,800 Espresso Machines and 0 Food Processors
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
Corporate income tax
Explanation:
A corporate income tax (CIT) is levied by federal and state governments on business profits, which are revenues (what a business makes in sales) minus costs (the cost of doing business).
