A person who earns $30,000 per year has $2,000 in childcare costs. As a

Suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry o

a_sh-v [17]

Answer:

In equilibrium, total output by the two firms will be option e= 300.

Q = $q_{1}$ + $q_{2}$

Q = 100 + 200

Q = 300

Explanation:

Data Given:

Market Demand Curve = P = 1660-4Q

where, P = price and Q = total industry output

Each firm's marginal cost = $60 per unit of output

So, we know that Q = $q_{1}$ + $q_{2}$

where $q_{}$ being the individual firm output.

Solution:

P = 1660-4Q

P = 1660- 4( $q_{1}$ + $q_{2}$ )

P = 1660 - 4 $q_{1}$ - 4 $q_{2}$

Including the marginal cost of firm 1 and multiplying the whole equation by $q_{1}$

Let's suppose new equation is X

X = 1660 $q_{1}$ - 4 $q_{1} ^{2}$ - 4 $q_{1}$ $q_{2}$ - 60 $q_{1}$

Taking the derivative w.r.t to $q_{1}$ , we will get:

$X^{'}$ = 1660 - 8 $q_{1}$ - 4 $q_{2}$ - 60 = 0

Making rearrangements into the equation:

8 $q_{1}$ + $q_{2}$ = 1660 - 60

8 $q_{1}$ + $q_{2}$ = 1600

Dividing the whole equation by 4

2 $q_{1}$ + $q_{2}$ = 400

Solving for $q_{1}$

2 $q_{1}$ = 400 - $q_{2}$

$q_{1}$ = 200 - 0.5 $q_{2}$

Including the marginal cost of firm 1 and multiplying the whole equation by $q_{2}$

P = 1660 - 4 $q_{1}$ - 4 $q_{2}$

Let's suppose new equation is Y

Y = 1660 $q_{2}$ - 4 $q_{1}$ $q_{2}$ -4 $q_{2} ^{2}$ - 60 $q_{2}$

Pugging in the value of $q_{1}$

Y = 1660 $q_{2}$ - 4 $q_{2}$ (200 - 0.5 $q_{2}$ ) -4 $q_{2} ^{2}$ - 60 $q_{2}$

Y = 1660 $q_{2}$ - 800 $q_{2}$ +2 $q_{2} ^{2}$ -4 $q_{2} ^{2}$ - 60 $q_{2}$

Y = 1600 $q_{2}$ - 800 $q_{2}$ -2 $q_{2} ^{2}$

Taking the derivative w.r.t $q_{2}$

$Y^{'}$ = 1600 - 800 - 4 $q_{2}$ = 0

Solving for $q_{2}$

4 $q_{2}$ = 800

$q_{2}$ = 200

$q_{1}$ = 200 - 0.5 $q_{2}$

Plugging in the value of $q_{2}$ to get the value of $q_{1}$

$q_{1}$ = 200 - 0.5 (200)

$q_{1}$ = 200 - 100

$q_{1}$ = 100

Q = $q_{1}$ + $q_{2}$

Q = 100 + 200

Q = 300

Hence, in equilibrium, total output by the two firms will be option

e= 300.

5 0

3 years ago

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal

Paladinen [302]

Answer:

1. The GDP deflator for this year is calculated by dividing the value of all goods and services produced in the economy this year using this year's prices by the value of all goods and services produced in the economy this year using the base year's prices and multiplying by 100.

This is why the formula for the GDP deflator is = GDP by year n prices/ GDP by base year prices.

2. However, the CPI reflects only the prices of all goods and services bought by consumers. 

3. Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - B) CPI

The Chinese-made car is not made in the US and is included in the basket of goods consumers buy which is used to calculate calculate CPI.

4. Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - A) GDP Deflator

This is not part of the goods in the basket and it is assumed to be made domestically so it is part of the GDP Deflator.

4 0

3 years ago

Although there are some clear disadvantages associated with extending credit to customers, such as bad debt costs, most managers

WITCHER [35]

Answer:

The primary advantage they refer to is additional sales revenue.

Explanation:

Extending credit to customers is generally done through use of credit cards these days. This does allow the customers to buy goods and services on credit and pay later for those goods.

Offering credit is beneficial for both the shopkeepers or merchants and the buyers. Customers do not have to pay cash (as they can run out of cash at times), so they buy more and this increases the sales revenue for the merchants, which becomes the primary advantage for them and outweighs the costs.

5 0

3 years ago

Which of the following occupations would least likely to be

Alekssandra [29.7K]

Answer:

McDonald Clown

Explanation:

B.

=MCDONALD

3 0

3 years ago

Read 2 more answers

Louise is overwhelmed with the new tasks that she has been assigned after the department merger. Each day, she arrives at work a

mojhsa [17]

Answer:

D. Time-management.

Explanation:

Time management is the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity.

8 0

3 years ago