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vampirchik [111]
3 years ago
11

You are the manager of a firm that sells its product in a competitive market at a price of $50. Your firm's cost function is C =

40 + 5Q2. The profit-maximizing output for your firm is
Business
1 answer:
Marina86 [1]3 years ago
5 0

Answer: Q = 5

Explanation:

In a competitive market, the profit maximising quantity is the quantity at which Marginal Cost is equal to Marginal revenue.

In a competitive market, price is equal to marginal revenue so marginal revenue is $50.

Marginal cost would be the differential of the cost function;

= 40 + 5Q²

= (2 * 5) * Q

= 10Q

10Q = 50

Q = 50/10

Q = 5

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High school football is arguably more popular in West Texas than in any other region of the country. During football​ season, sm
Furkat [3]

Answer:

The answer is D. All of the above are plausible

Explanation:

A. Opportunity costs are relatively low is reasonable because as football game is taking place, most of the local people will go to the field to enjoy the field rather than spending their time at local shops/restaurants. Moreover, there are not many people from other towns visiting these facilities because of far distance.

B. is reasonable because it is high school football not professional football so the expenses spent on watching the game is low.

C. is is plausible because these towns are quite remote so watching their young neighbors/relatives playing may be one of the few entertainment choices available to them in weekend.

=> So, the answer is D.

8 0
3 years ago
Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and own
yanalaym [24]

Answer:

a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE

b) Decrease equity (Salaries): Decrease asset (Cash)

c) Increase asset (Cash): Increase equity (Capital)

d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)

e) Decrease equity (Utility): Increased liabilities (Others payable accounts)

f) Decrease equity (Capital): Decrease assets (Cash)

Explanation:

Accounting Equation Formula :

Assets = Liabilities + Equity

According to the formula transactions must be recorded  as follows:

<em>DEBIT:</em> Asset increases, Liabilities decreases, and Equity decrease.

<em>CREDIT:</em> Asset decreases, Liabilities increases, and Equity increase.

3 0
3 years ago
Kellyanne hired Joshua from Southwest University. He was an amazing employee and exceeded all her expectations. The next year, s
Anastasy [175]

Answer:

Representativeness heuristic bias

Explanation:

Representativeness heuristic bias occurs when there are similar events whose probability of occurrence is assumed to be the same. People mistakenly assume there is a close relationship between the two events than there really is.

For example of John is a lawyer, he is judged to be a lawyer because of expression of various traits associated with lawyers.

Kellyanne hired Joshua from Southwest University. Because of his outstanding performance, it is assumed that other considered from Southwest University will also perform outstandingly.

This is a form of representativeness heuristic bias

7 0
3 years ago
If a family spends its entire budget in a given time frame, the family can afford either 10 restaurant meals or 30 home meals. A
Andrej [43]

The opportunity cost of one extra restaurant meal in the time frame is 3 home meals.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When the family chooses to go for the restaurant meal, they forgo the opportunity for a home meal.

Opportunity cost  = 30 / 10 = 3

To learn more about opportunity cost, please check: brainly.com/question/26315727

7 0
2 years ago
Kirkaid Company recorded the following transactions for the just completed month:
Illusion [34]

Answer:

The correct answer is $5,000.

Explanation:

According to the scenario, the given data are as follows:

Total raw material = $118,000

Direct material = $89,000

So, Indirect material = Total raw material - Direct material = $118,000 - $89,000

= $29,000

Total labor = $142,000

Direct labor = $122,000

So, Indirect labor = Total labor - Direct labor = $142,000 - $122,000

= $20,000

Additional actual manufacturing OH = $214,000

Applied manufacturing OH = $268,000

So, we can calculate the underapplied or overapplied overhead for the month by using following formula:

Underapplied or overapplied overhead = Applied manufacturing OH - Actual OH

= $268,000 - ( $29,000 + $20,000 + $214,000)

= $268,000 - $263,000

= $5,000

Hence, the overapplied overhead is $5,000.

6 0
3 years ago
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