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3 years ago

Is 6 ft greater than 72 inches

Business

2 answers:

Fudgin [204]3 years ago

6 0

They are the same because 1 foot is 12 inches and 12 inches times 6 equals 72

Rudik [331]3 years ago

3 0

No, 6ft=72in. There the same.

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Answer:

Price Floor led Excess Supply can be solved by : Preserving goods Buffer Stock ; or processing goods to increase their shelf life (in case of perishable goods like Milk)

Explanation:

Unregulated markets are at equilibrium where : market demand , market supply are equal ; and downward sloping demand curve , upward sloping supply curve intersect.

Price Floor is minimum mandated price set by government, below which a good can't be sold in the market. It is usually set above equilibrium price, to protect interest of sellers. Example : Minimum Support Price as minimum agricultural goods price to protect interest of farmers, Given Milk Price floor case.

Price Floor creates artificially higher prices ; so increases supply, decreases supply & hence creates Excess Supply. Government can solve this excess supply by preserving stock supply for contingent times , eg - maintaining buffer stock. If the good is of perishable nature, as given milk case : it should be processed further to increase its shelf life, eg - cheese, such that the stock supply can be released at a slower pace.

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2 years ago

Cost of Producing Guitars Carlota Music Company estimates that the marginal cost of manufacturing its Professional Series guitar

diamong [38]

Answer:

The total monthly cost C(x) incurred by Carlota in manufacturing x guitars/month is <u>C(x) = 0.004x^2 + 90x + 8,500</u>.

Explanation:

Given,

C '(x) = 0.008x + 90 ................................... (1)

To obtain the the total monthly cost C(x) incurred by Carlota in manufacturing x guitars/month, we obtain the integral of equation (1) as follows:

$C(x)=\int\limits {C'(x)} \, dx = \int\limits {[0.008x + 90]} \, dx$

C(x) = (0.008 / 2) x^2 + 90x + F

C(x) = 0.004x^2 + 90x + F .......................... (2)

Where F is the constant.

Since total cost is the addition of the total cost and total variable cost, the F in equation (2) represents the total fixed cost per month.

Since the fixed costs incurred by Carlota are $8500/month, this implies that F = 8,500.

Substituting F = 8,500 into equation (2), we have:

C(x) = 0.004x^2 + 90x + 8,500 <-------------- Total cost per month

Therefore, the total monthly cost C(x) incurred by Carlota in manufacturing x guitars/month is <u>C(x) = 0.004x^2 + 90x + 8,500</u>.

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