Answer:
Option (b)=112 units of output was produced in 2013
Explanation:
Returns of scale refers to how much output changes given a proportional change in input, where the input changes by a constant factor.
This can be represented by the equation;
Input 2=Constant×Input 1
where;
Input 1=100 units of Labor+50 units of capital=100l+50c
Constant=k
Input 2=112 units of Labor+56 units of capital=112l+56c
Replacing;
112l+56c=k×(100l+50c)
Since k is a common factor which when multiplied by the input 1 labor and capital equals input 2 labor and capital, it can be calculated as;
k=(Input 2 labor units/input 1 labor units)=(Input 2 capital units)/Input 1 capital units)
k=(112l/100l)=(56c/50c)=1.12
To calculate the output for input 2;
Output 2=k×Output 1
where;
Output 1=the output produced by input 1=100 units
k=constant returns=1.12
Output 2=the output produced by input 2=x
Replacing;
x=100×1.12
x=112 units
Output 2=112 units
112 units of output was produced in 2013
Answer:
<h2>The answer in this case would be option a. or price exceeds marginal cost.</h2>
Explanation:
- Monopolistic competition is a particular type of market structure where multiple or many firms or companies are producing and selling differentiated or heterogeneous products or services.
- A monopolisticially competitive firm maximizes its profit by producing the output level at which the marginal revenue or the additional or incremental revenue obtained from selling one more unit of output is equal to the marginal cost or the additional or incremental cost or expense incurred by the firm or company to produce that one more unit of the output.
- The monopolistically competitive firm charges per unit price of the output which is equal to the demand for any particular product or service in the market and higher than both marginal revenue and marginal cost or above the point where both are equal.Hence,the price charged by the monopolistically competitive firm is higher than both marginal cost and marginal revenue of production.
Answer:
$212,000
Explanation:
Calculation to determine the total amount that should be debited to Patents through July 31, 2017
Using this formula
Total amount debited to Patents=Legal fees for patent+Legal fees in a successful defense of patent
Let plug in the formula
Total amount debited to Patents=$150,000+$62,000
Total amount debited to Patents=$212,000
Therefore the total amount that should be debited to Patents through July 31, 2017 is $212,000
trough
Suppose an economy has historically grown at a rate of 1.25%. economic activity decreased every quarter over the past year, but the decline stopped this quarter. the economy is expected to grow at a rate of 1.4% in the near future, but monetary authorities are concerned that inflation may increase. this economy is probably in the _____ stage of the business cycle.
<span>The most expensive pairs of shoes as of 2016 would have to be "Nike Mag." Selling at about $28,638</span>
