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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

Which of the following is an example of how advanced technology has helped the modern economy ?

OlgaM077 [116]

Its between a an B but i think its A

7 0

3 years ago

The accounting records of Compass Point Wireless include the following as of December 31, 2016:

uysha [10]

Answer:

1, Compass Point Wireless

Balance sheet (partial)

Current Liabilities: $

Accounts Payable 71,000

Interest Payable 17,000

Salaries Payable 10,500

Unearned Revenue 2,400

Current Portion of Bonds payable 24,000

Total current Liabilities $ 124,900

Long term Liabilities $

Mortgage Payable 80,000

Bonds Payable 64,000

Premium on Bonds Payable 10,000

Total long term liabilities $154,000

Total liabilities = Total current Liabilities + Total long term liabilities

= $ 124,900 + $154,000

= 278900

2. Debt Stockholders' equity Debt to equity ratio

278,900 160,000 1.74

Note: Debt to equity ratio = Debt / Stockholders' equity

6 0

3 years ago

Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) cos

Rainbow [258]

Answer:

The correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

Explanation:

The formula for cost to cost method is expected or actual cost incurred to date divided by the total cost of the project or contract.

Therefore, we have:

Total cost = Cost in 2017 + Cost in 2018 + Cost in 2019 = $640,000 + $1,600,000 + $800,000 = $3,040,000

Cost in 2017 contribution to total cost = Cost in 2017 / Total cost = $640,000 / $3,040,000 = 0.21

Cost in 2018 contribution to total cost = Cost in 2018 / Total cost = $1,600,000 / $3,040,000 = 0.53

Cost in 2019 contribution to total cost = Cost in 2019 / Total cost = $800,000 / $3,040,000 = 0.26

Revenue in 2017 = Cost in 2017 contribution to total cost * Contract price = 0.21 * $4,000,000 = $840,000

Revenue in 2018 = Cost in 2018 contribution to total cost * Contract price = 0.53 * $4,000,000 = $2,120,000

Revenue in 2019 = Cost in 2019 contribution to total cost * Contract price = 0.26 * $4,000,000 = $1,040,000

Therefore, net income for each year 2017 through 2019 using the cost-to-cost method can be computed as follows:

Net income for year 2017 = Revenue in 2017 - Cost in 2017 = $840,000 - $640,000 = $200,000

Net income for year 2018 = Revenue in 2018 - Cost in 2018 = $2,120,000 - $1,600,000 = $520,000

Net income for year 2019 = Revenue in 2019 - Cost in 2019 = $1,040,000 - $800,000 = $240,000

Therefore, the correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

6 0

3 years ago

Read 2 more answers

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent. $200

PIT_PIT [208]

Answer:

Normal:

$ 3,509.7470

$ 563.7093

$ 2,000.00

Due:

$3,930.9167

$ 597.5319

$ 2,000.00

Explanation:

We solve using the formula for common annuity and annuity-due on each case:

$C \times \frac{(1+r)^{time} }{rate} = FV\\$

$C \times \frac{(1+r)^{time} }{rate}(1+rate) = FV\\$ (annuity-due)

First:

C 200.00

time 10

rate 0.12

$200 \times \frac{11+0.12)^{10} }{0.12} = FV\\$

$200 \times \frac{11+0.12)^{10} }{0.12}(1+0.12) = FV\\$

Normal: $3,509.7470

Due: $3,930.9167

Second:

$100 \times \frac{(1+0.06)^{5} }{0.06} = FV\\$

$100 \times \frac{(1+0.06)^{5} }{0.06} (1+0.06)= FV\\$

$563.7093

$597.5319

Third:

No interest so no time value of money the future value is the same as the sum of the receipts regardless of time or being paid at the beginning or ending.

1,000 + 1,000 = 2,000

4 0

3 years ago

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