Answer:
1. profit is maximized when Q = 6 bushels, from table
2. When MC increases by 0.5 at each level of quantity produced, setting P = MC for profit maximization
at output level = 6, P = 4, MC = 3.5
Q = 6 bushels
3. Profit = 24-15-0.5*6 = 6.00
Answer:
- Cross-price elasticity = -4
- Goods are compliments.
Explanation:
The cross-price elasticity of two goods refers to how the change in price of one affects the change in price of another. It also shows which goods are compliment or substitutes.
Complimentary goods have a negative cross-price elasticity and substitutes have a positive one.
Cross price elasticity = % change Quantity demanded of X / % change in Price of Y
= -20% / 5%
= -4
These goods are compliments as the cross-price elasticity is a negative.
Property taxes on the factory building is an example of a committed fixed cost at Bennett, Inc.
<h3>What are committed fixed cost?</h3>
The costs necessary to maintain current production capacity are referred to as committed fixed costs or capacity costs. These expenses result from top managers' long-term choices regarding the scope and makeup of their firm.
committed fixed costs are essential for the efficient functioning of a business, and their absence may disrupt such operations, which could have a real effect on the organization.
For businesses, property taxes are a fixed expense. The taxes normally don't vary and are only adjusted for improvements in the value of the related asset or facility. However, property taxes typically remain constant from year to year.
To know more about fixed cost refer to: brainly.com/question/14597388
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Answer:
The correct answer is option a.
Explanation:
A budget line represents the maximum possible combination of two goods that can be purchased by an individual by spending all of his income.
George has a weekly income of $50.
He spends this income on donuts and coffee.
The price of a donut is $1 and the price of coffee is $2.50.
As George's income increase to $100, George will be able to afford more coffee and donuts as the price of coffee does not change.
So, the budget line will shift to the right, indicating the increase in the quantity of goods George can afford.
Answer:
A. Firewalls
Explanation:
Took the test and guessed it correctly
