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anyanavicka [17]
3 years ago
8

Stacey's text messaging plan costs $10 for the first 250 messages and 30¢ for each additional text message. if she owes $13.00$⁢

13.00 for text messaging in the month of august, how many text messages did she send that month?
Business
1 answer:
Anvisha [2.4K]3 years ago
8 0
13-10 = 3, and it takes 10 30 cent "parts" to make 3 dollars, so it would be 260 texts.
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Emily Lim owns and runs an ice cream parlor in San Diego. Last year, she had sales of $490,000 and an average tax rate of 32%. S
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b) The long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

Explanation:

a) Given the information provided, is the firm minimizing the cost of current production? Explain why or why not.

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MRPL / w = MRPC / r ……………………………. (1)

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MRPC / r = 30 / 150 = 0.20

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b) If the daily wages were to increase, explain the long run adjustments that the firm would likely make in response to the wage increase.

If the daily wages were to increase, the MRPL / w in equation (1) in part a above will fall and we will have:

MRPL / w < MRPC / r …………………… (2)

Since equation (2) is no longer consistent with equation (1), the firm is NOT minimizing the cost of current production.

Therefore, the long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

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