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4 years ago

If your nominal income is $80,000 and your real income in base year prices is $71,500, what is the cpi?

1 answer:

4 0

<span>The consumer price index would change in concert with the real value of the income that the consumer has. In this case, the nominal value is 80,000 with a real value of only 71,500. Taking these two values and dividing them gives a quotient of 1.118, which is rounded up to 1.12, multiplied by 100 to give a CPI of 112.</span>

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AlekseyPX

Answer:

<h2>Asset</h2>

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3 years ago

Suppose a firm has two types of customers but cannot tell which type of buyer the customer is before a purchase is made. If the

scoundrel [369]

Complete Question:

Suppose a firm has two types of customers but cannot tell which type of buyer a customer is before a purchase is made. One group of customers has an inverse demand of P = 100 – 10Q, while another group of customers has an inverse demand curve of P = 110 – 22.5Q. If the firm wanted to use a quantity discount pricing scheme, what prices should it set? Assume that the marginal cost of production is constant at $20.

A) The firm could charge $65 per unit for any quantity purchased or $60 per unit if buying 4 or more units.

B) The firm could charge $50 per unit for any quantity purchased or $40 per unit if buying 8 or more units.

C) The firm could charge $25 per unit for any quantity purchased or $20 per unit if buying 2 or more units.

D) The firm could charge $85 per unit for any quantity purchased or $75 per unit if buying 6 or more units.

Answer:

Option A. The firm could charge $65 per unit for any quantity purchased or $60 per unit if buying 4 or more units.

Explanation:

<u>Group One Customers:</u>

We will find the price and quantity by using the following relationship:

Marginal Revenue = Marginal Cost

But the first step would be to calculate marginal revenue.

<u>Step1: Calculate Marginal Revenue</u>

The price and quantity relation of group one customers is given as under:

P = 100 - 10Q

Now we will use total revenue equation which is given as under:

Revenue = Price * Quantity

Here

Price = 100 - 10Q

By putting this in the above equation, we have:

Revenue = (100 - 10Q) * Q

Revenue = 100Q - 10Q^2

Taking derivative on both sides we have:

Marginal Revenue = 100 - 2*10*Q = 100 - 20Q

Now as we know that:

Marginal Revenue = Marginal Cost

Here

Marginal Revenue = 100 - 20Q

Marginal Cost = $20

By putting values, we have:

$100 - 20Q = $20

$100 - $20 = 20Q

Q = $80 / $20 = <u>4 Units</u>

Now putting this value in the price equation we have:

Price = $100 - 10*4 = <u>$60</u>

<u>Group Two Customers:</u>

We will find the price and quantity by using the following relationship:

Marginal Revenue = Marginal Cost

But the first step would be to calculate marginal revenue.

<u>Step1: Calculate Marginal Revenue</u>

The price and quantity relation of group one customers is given as under:

P = 110 – 22.5Q

Now we will use total revenue equation which is given as under:

Revenue = Price * Quantity

Here

Price = 110 - 22.5Q

By putting this in the above equation, we have:

Revenue = (110 - 22.5Q) * Q

Revenue = 110Q - 22.5Q^2

Taking derivative on both sides we have:

Marginal Revenue = 110 - 2*22.5*Q

Marginal Revenue = 110 - 45Q

Now as we know that:

Marginal Revenue = Marginal Cost

Here

Marginal Revenue = 110 - 45Q

Marginal Cost = $20

By putting values, we have:

$110 - 45Q = $20

$110 - $20 = 45Q

Q = $90 / $45 = <u>2 Units</u>

Now putting this value in the price equation we have:

Price = $110 - 22.5*2 = <u>$65</u>

<u></u>

<h2><u>The data extracted from the above two scenario is as under:</u></h2><h2><u>For Group 1, Price is $60 and Quantity is 4 Units</u></h2><h2><u>For Group 2, Price is $65 and Quantity is 2 Units</u></h2><h2><u>Hence the option A is correct.</u></h2>

7 0

3 years ago

The specification for a very large DC power supply is 2.18 megavolts at 0.18 amperes with a ripple factor of 0.1% and a regulati

vekshin1

Given Information:

Vdc = VF-L = 2.18x10⁶ V = 2,180,000 V

VF-L = voltage at full load

Ripple factor = r = 0.1 %

Voltage Regulation = VR = 0.05 %

Required Information:

Ripple voltage = Vr = ?

No-Load Voltage = VN-L = ?

Answer:

a. Ripple voltage = Vr = 2,180 V

b. No-Load Voltage = VN-L = 2,181,090 V

Solution:

a. Ripple Voltage Vr

The ripple factor is a measure of effectiveness of the rectification (the conversion of AC to DC) and it should be as low as possible.

The ripple factor is given by

r = Vr/Vdc

Re-arranging the formula to find ripple voltage Vr

Vr = Vdc*r

Vr = (2.18x10⁶)*0.001

Vr = 2,180 V

b. No-Load Voltage VN-L

Voltage regulation is given by

VR = (VN-L - VF-L)/VF-L

Re-arranging the formula to find the no-load voltage VN-L

VN-L = VR*VF-L + VF-L

VN-L = 0.0005*2.18x10⁶ + 2.18x10⁶

VN-L = 1090 + 2.18x10⁶

VN-L = 2,181,090 V

VN-L = 2.181x10⁶ V

7 0

4 years ago

All of the following statements about data mining are true EXCEPT1. the process aspect means that data mining should be a one-st

Romashka [77]

All of the following statements about data mining are true EXCEPT

the process aspect means that data mining should be a one-step process to results.

<u>Explanation:</u>

When you are in a need to find the patterns in a data set which is very large, then the process called data mining can be used. The methods like machine learning, database and statistics are used in finding patterns. Data mining helps in getting some useful information from a large set of data.

Hence, with the method of data mining we can discover the patterns that exists in a given data set and that are not known already. It helps in obtaining some useful information that can be utilized in various business aspects. It does not involve single step in finding patterns in data set and the patterns that are discovered with this data mining will be true which is its noble aspect.

5 0

3 years ago

If the price of a video game increased, what would the law of supply predict about the quantity supplied of the game?

Lana71 [14]

The law of supply states that all things being equal, an increase in price leads to an increase in quantity supplied.
Hence, the quantity of the game supplied will increase

4 0

3 years ago

If your nominal income is​ $80,000 and your real income in base year prices is​ $71,500, what is the​ cpi?

If your nominal income is $80,000 and your real income in base year prices is $71,500, what is the cpi?