Both a price taker and a price maker maximize profits (or minimize losses) by producing the quantity of output at which __________ equals __________.
Answers
Both a price taker and a price maker maximize profits (or minimize losses) by producing the quantity of output at which marginal cost equals marginal revenue.
In economics, a price taker refers to a firm that has no control over the price of its product in the market. It simply takes the prevailing market price as given. On the other hand, a price maker has the ability to set the price for its product based on its own market power or influence.
To maximize profits (or minimize losses), both price takers and price makers need to determine the quantity of output at which marginal cost (MC) equals marginal revenue (MR).
Marginal cost is the additional cost incurred from producing one more unit of output, while marginal revenue is the additional revenue generated from selling one more unit of output. By producing at the quantity where MC equals MR, firms are able to find the optimal level of output that maximizes their profit or minimizes their loss.
To know more about price taker refer here:
https://brainly.com/question/30036691#
#SPJ11
Related Questions
Answer all parts of this question: (a) Explain why-unlike perfect competition-MR is less than AR (demand) under monopoly. [3 marks] (b) What is the profit-maximizing price and output for the monopoly
Answers
The marginal revenue (MR) of a monopoly, in contrast to perfect competition, is lower than the average revenue (AR) or the demand curve because a monopoly business is the only seller of a good.
Thus, a monopolistic business must think about how its price decisions will affect demand in order to maximize profits. A monopoly can only increase the number of units it sells by decreasing the price since the demand curve for its product has a downward slope.
When marginal cost (MC) equals marginal revenue (MR), the price and output for a monopoly are at their highest possible profit levels. This is the production level when the extra cost of creating one more unit (MC) equals the extra money made.
Learn more about marginal revenue here:
https://brainly.com/question/30236294
#SPJ4
Use the Internet to find an article that presents a forecast of the economy's performance in the next three months to a year. Once you have found and read your article, record your summary using the following format in the box below and include the link. Be sure to include the URL links you used as resources in the space below.
Paragraph #1 - Summary of article including the link.
Paragraph #2 - How it relates to entrepreneurship.
Paragraph #3 - Your opinion of whether or not you agree with the prediction and the evidence provided to support the forecast.
Answers
I'm gonna take an educated guess and say that your answer is Paragraph #2.
A monopolist has the following production function Q-L0505 where Lis the number of units of labour and K is the number of units of capital used in the production process. Suppose that the cost per unit of labour is $4 and the cost per unit of capital is $16 and the monopolist takes the input prices as given. Assume the market demand is P-24-Q. If the monopolist is going to maximise the profit, how much output will they produce? How many units of labour and capital is the firm going to employ? How much profit is the firm going to earn?
Answers
Given that the production function of the monopolist is Q = L^0.5K^0.5 where L is the number of units of labor and K is the number of units of capital used in the production process. The cost per unit of labor is $4 and the cost per unit of capital is $16.
Assuming the market demand is P = 24 - Q, to find out how much output the monopolist is going to produce, the number of units of labor and capital the firm is going to employ and the profit earned by the firm, follow the steps below;Step 1: Find the marginal product of labor (MPL) and the marginal product of capital (MPK)MPL = 0.5 (Q/L)K^0.5MPK = 0.5 (Q/K)L^0.5Step 2: Find the cost of labor (CL) and the cost of capital (CK)CL = MPL * wwhere w is the cost per unit of labor, w = $4CL = 0.5 (Q/L)K^0.5 * $4CK = MPK * rwhere r is the cost per unit of capital, r = $16CK = 0.5 (Q/K)L^0.5 * $16Step 3: Substitute MPL and MPK into the production function and simplifyQ = L^0.5K^0.5Q = (4/MPL)^2(4/MPK)^2Step 4: Substitute the market demand into the equation for Q and solve for P24 - Q = L^0.5K^0.5P = 24 - (4/MPL)^2(4/MPK)^2Step 5: Rewrite P in terms of L and K by substituting MPL and MPK into the equation and simplifyP = 24 - (16Q^2)/(L^2K^2)Step 6: Find the total cost (TC)TC = CL * L + CK * KTC = 2QStep 7: Find the marginal revenue (MR)MR = d(PQ)/dQ = 24 - 2QStep 8: Find the marginal cost (MC)MC = dTC/dQ = 2Step 9: Find the output (Q) by setting MR = MC24 - 2Q = 2Q = 11Step 10: Find the quantity of labor (L) and capital (K) employedL = Q/MPL = (11/0.5K^0.5)^2K = Q/MPK = (11/0.5L^0.5)^2Therefore, the monopolist will produce 11 units of output, employ 24 units of labor and 24 units of capital. The total cost will be $22 and the total revenue will be $132. Therefore, the profit will be $110. Hence, the monopolist will produce 11 units of output, employ 24 units of labor and 24 units of capital, and earn a profit of $110.Thus, the monopolist will produce 11 units of output, employ 24 units of labor and 24 units of capital, and earn a profit of $110.
to know more about monopolist visit:
brainly.com/question/32611254
#SPJ11
2. What may NOT impact the interest rate on your loans?
a.
The loan amount
b. Your relationship with the financial institution
C.
Your level of education
d. Your credit score
Answers
Good luck hope this helps
:))
economic expansions in europe and china would cause group of answer choices the u.s. price level to rise and real gdp to fall. the u.s. price level to fall and real gdp to rise. the u.s. price level and real gdp to rise. the u.s. price level and real gdp to fall.
Answers
The price level and real GDP in the US would increase as a result of economic growth in China and Europe.
What is the GDP?Gross domestic product (GDP) is the total monetary value, or market value, of all finished goods and services produced within a nation's borders over a specific time period. It serves as a comprehensive scorecard of a particular country's economic health as a broad indicator of overall domestic production.
Despite being calculated on an annual basis in the majority of cases, GDP is also sometimes calculated on a quarterly basis. The government of the United States, for instance, releases an annualized GDP estimate for both the calendar year and each fiscal quarter.
Since each set of data in this report is presented in real terms, price changes are taken into account when calculating the data, which results in data that is net of inflation.
Learn more about GDP with the help of the given link:
brainly.com/question/15682765
#SPJ4
FILL IN THE BLANK. nonforfeiture rights guarantee that a policy owner will not lose his or her policy’s _____.
Answers
Nonforfeiture rights guarantee that a policy owner will not lose his or her policy’s cash value.
Nonforfeiture rights are a protection for policy owners in the life insurance industry. These rights are designed to ensure that policy owners do not lose their investment in a policy if they are unable to pay their premiums or if they choose to surrender the policy.
Specifically, nonforfeiture rights guarantee that the policy owner will not lose the cash value of the policy, which is the accumulated value of the policy's premiums and any investment earnings. If the policy lapses or is surrendered, the policy owner is entitled to a percentage of the cash value, which can be used to purchase paid-up insurance or provide a cash payout.
Nonforfeiture rights are an important protection for policy owners and can provide financial security in uncertain times.
Learn more about nonforfeiture rights https://brainly.com/question/31442285
#SPJ11
In a business letter, the true margins are
Answers
Hope this helps, good luckkk :)
Answer:
side ;top and bottom marguns
Imagine you want to become a chef and restaurant owner. What education and
skills would you need to succeed in this position?
Answers
Answer:
Cooking and business managing skills
Explanation:
To be a chef you need to know how to cook, not just following recipes, but being able to cook food that uses the ingredients and measurements you think it need.
To own a restaurant you need to know how to budget money, what you need to buy, how to be able to pay for a restaurant, how to manage it, how to hire staff and pay your staff.
a us company will need 1 million polish zloty in two years to purchase imports. the company uses forward contacts to hedge its payables , under the following assumptions, how many dollars will the company need in two years? Assume that the interest rate parity holds , the spot rate of the polish zloty is $0.30 cents, and the 2 year annualised interest rate in the US is 5 precent whereas the 2 year annualised interest rate in Poland is 11 per cent.
Answers
To calculate the amount of dollars the US company will need in two years to purchase 1 million Polish zloty, we can use the interest rate parity concept. Interest rate parity states that the forward exchange rate should equal the spot exchange rate adjusted for the interest rate differential between the two currencies.
Given that the spot rate of the Polish zloty is $0.30, the US interest rate is 5% per annum for two years, and the Polish interest rate is 11% per annum for two years, we can calculate the forward exchange rate using the interest rate parity formula.
Forward exchange rate = Spot exchange rate * (1 + Foreign interest rate) / (1 + Domestic interest rate)
Forward exchange rate = $0.30 * (1 + 0.11) / (1 + 0.05)
Forward exchange rate = $0.30 * 1.11 / 1.05
Forward exchange rate = $0.316
Now, we can calculate the amount of dollars the company will need in two years:
Amount in dollars = Amount in Polish zloty * Forward exchange rate
Amount in dollars = 1 million Polish zloty * $0.316
Amount in dollars = $316,000
Therefore, the US company will need $316,000 in two years to purchase 1 million Polish zloty.
To know more about interest rate, please visit
https://brainly.com/question/28272078
#SPJ11
Question 3 of 10
Which of the following is a hard skill that a marketing manager might use on
a regular basis?
A. Using listening skills to understand employee concerns
B. Using spreadsheets to plan budgets
C. Using leadership skills to motivate a project team
D. Using coding skills to create websites for clients
SUBMIT
Answers
Answer: B. Using spreadsheets to plan budgets
Explanation: yes
Walmart can achieve a _____ using its relationships with suppliers to create an advantage that, ultimately, allows it to give customers low prices and good customer service.
Answers
Answer:
cost leadership/competitive advantage
What are some of the advantages of incorporating?
A. All businesses are required by law to incorporate.
B. Business owners are protected from liability and lawsuits.
C. Incorporation is the least expensive business structure.
D. Incorporation makes a business more likely to succeed.
Answers
Which of the following is a personal benefit of eaming a college degree?
A. You have more friends.
B. You are more likely to exercise.
C. You have a longer life expectancy.
D. You are more likely to vote for the right candidate.
Answers
Answer:
Option B !!!!! :))
Explanation:
They have fixed costs of £200 per month Each item's raw materials cost £50 The items sell for £150 each
What is the Break Even Point for the business?
Answers
Answer:
2 unit
Explanation:
The break-even point is that point at which a business makes no profit after settling all the necessary fixed cost for the period. It is the point preceding profit making at which costs are recovered
It is calculated by dividing the fixed costs with the sales revenue less the variable cost per unit of an item.
Workings
Fixed cost = 200
Selling price = 150
Variable cost = 50
Break even point = 200/(150-50)
=2 units
Any sales below this ends up in a loss as the fixed cost will not be fully recovered.
MOTIVATION TIME
Success doesn’t just find you. You have to go out and get it.
Answers
Answer:
thnak u that made my day
Explanation:
On febuary 1, johnson company purchased $2,800 of supplies on accoount. on febuary 1, johnson company debited supplies expense, which is an alternate way of recording the initial expendiutre?
Answers
The account is a personal account this is required to get entry to, over the counternotification and authorization to positive online services. it is also regularly used as an unmarried sign-on for third birthday party services.
To file account prevalence of expenditure, an accountant needs to display evidence of over-the-counter transactions happening. for instance, an income receipt will display evidence of a sale, while a counter bill will imply a request for payment for items and offerings.
The profits and Expenditure Account is ready on an accrual basis. All earning and charges relating to over accounting year, over-the-counter counter truly obtained and paid or no longer, are considered. Expenditure is recorded on the debit and income is recorded on the credit score aspect.
Supplies In hand 2050
Supplies Exp. 2050
Learn more about the account here:- https://brainly.com/question/25567167
#SPJ4
If you are interviewed by more than one person, you should send a thank-you note to _____.
each person in the interview
each person you see in the building
the first person you are introduced to
the person who is obviously leading the interview
Answers
Answer:
option A is correct.
i.e.
each person in the interview.
Explanation:
Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.
what is meant by business objectives
Answers
Answer:
Business objectives are something which a business organisation wants to achieve or accomplish over a specified period of time. These may be to earn profit for its growth and development, to provide quality goods to its customers, to protect the environment, etc.
Answer:
Business objectives are something that a business organization wants to achieve or accomplish over a specified period of time.
Explanation:
These may be to earn profit for its growth and development, to provide quality goods to its customers, to protect the environment, etc.
The application of scientific knowledge to the development and improvement of goods and services is generally referred to as ______. Multiple choice question. technology information production
Answers
Answer:
Technology.
Explanation:
As the definition is seen above, these qualities are directed towards technology. Technology has advanced produce and sales of goods and services a lot. It shows itself in fastening and making production easier. And also in different other forms that come as advertising, E-commerce, communication etc. Orders of certain goods are been sent thousands miles away from the producing country and are seen to be received safe and sound at the other end of the purchase country. Also adverts can be seen of a Chinese product in far away Africa through television commercials and also internet.
imagine you are a project manager leading agile adoption at an organization. why is it important that you find an executive sponsor to support the change?
Answers
You are a project manager leading agile adoption at an organization. why is it important that you find an executive sponsor to support the change Agile challenge management clearly removes the probabilities of absolute challenge failure.
Working in sprints lets in groups to expand a running product from the start or fail rapid and take some other approach. The capacity to thrive and stay calm below pressure and work in organization. Excellent communique abilities and the capacity to paintings properly with others. Superior essential wondering capabilities, such as the capacity to suppose on their feet. Comfort with quick converting priorities and an excessive stage of adaptability and flexibility.
Learn more about management here:
https://brainly.com/question/1276995
#SPJ4
Assume that you would like to put money in an account today to make sure your child has enough money in 10 years to buy a car. If you would like to give your child $10,000 in 10 years, and you know you can get 5% interest per year from a savings account during that time, how much should you put in the account now?
Answers
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment
P = the principal (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time period (in years)
Using this formula, we can solve for P, the amount of money we need to put in the account now:
A = $10,000 (the future value we want)
r = 0.05 (the annual interest rate)
n = 1 (since interest is compounded annually)
t = 10 (the time period in years)
P = A / (1 + r/n)^(nt)
P = $10,000 / (1 + 0.05/1)^(1*10)
P = $10,000 / (1.05)^10
P = $10,000 / 1.62889
Therefore, you should put approximately $6,131.41 in the savings account now to ensure that you will have $10,000 in 10 years, assuming a 5% annual interest rate compounded annually.
Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.What will be his new monthly net pay? Round your answer to the nearest dollar.
Answers
$2891 in his new monthly net pay. Thus, option D is correct.
What is tax?Tax is referred to as the sum that is paid by an individual or a business on their earnings or profits. This is often deducted from the tax at the source, but sometimes the person needs to pay them later on also.
Since we are decreasing her tax from 12% to 11%, the federal income tax will be reduced to $385 rather than $420.
The new monthly net pay will be after deducting the payments from various things and taxes.
= $3500 - (385+95+89+40)
= $2891.
Therefore, option D is the correct option.
Learn more about Tax, here:
https://brainly.com/question/16423331
#SPJ1
The question is incomplete, the complete question will be:
Chin needs more money in his net pay each month so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.
Deduction
Dollar Amount
Federal Income Tax
$420
State Income Tax
$95
Social Security
$89
Medicare
$40
What will be his new monthly net pay? Round your answer to the nearest dollar.
A.$2821
B.$2857
C.$2860
D.$2891
Kathy has lost 25 pounds recently through dieting. According to ____ she will have difficulty keeping the weight off because her metabolism will have decreased in order to maintain the fat stores in her body.
Answers
According to metabolic adaptation, Kathy may have difficulty keeping the weight off as her metabolism may have decreased to maintain her body's fat stores.
When individuals undergo significant weight loss, their bodies often respond by adapting their metabolism. This adaptation is known as metabolic adaptation. During weight loss, the body senses a decrease in energy intake and responds by conserving energy to ensure survival. One of the ways it does this is by reducing the metabolic rate, which is the rate at which the body burns calories.
Metabolic adaptation occurs because the body perceives the weight loss as a threat and attempts to restore the lost weight. It does this by slowing down various metabolic processes, such as reducing the activity of the thyroid gland and decreasing levels of certain hormones that regulate metabolism. These adaptations make it more challenging for individuals like Kathy to maintain their weight loss because their bodies are now more efficient at conserving energy.
As a result, Kathy may need to make additional efforts to sustain her weight loss. This could involve adjusting her calorie intake, engaging in regular physical activity to increase calorie expenditure, and adopting long-term lifestyle changes to support a healthy weight. It's important to note that individual factors, such as genetics and body composition, can also influence metabolic adaptation and weight maintenance. Seeking guidance from healthcare professionals, such as registered dietitians or physicians, can provide personalized strategies to address metabolic adaptation and support long-term weight management.
Learn more about energy conservation techniques here: brainly.com/question/15171817
#SPJ11
tonja has a supervisory position and is pleasant and professional in front of visitors. she is also a charismatic presenter. however, behind closed office doors, she is rude and dismissive of others. tonja is not a competent communicator because:
Answers
Because she doesn't modify her communication techniques to fit the demands of various individuals and circumstances, Tonja's employer is not a skilled communicator.
Speaking, writing, listening, and reading are the four fundamental communication techniques. People will remember you for the way you interact with them and convey your thoughts. a process whereby information is shared between people using a common set of signs, symbols, or behaviors. Verbal communication, nonverbal communication, written communication, visual communication, and listening are the five types of communication you need to be aware of. William Newman and Charles Summer: Communication is an exchange of ideas, facts, opinions or emotions of two or more persons. 4. Louis Allen: Communication is a bridge of meaning. It involves a systematic and continuous process of telling, listening and understanding.
learn more about communication techniques here:
https://brainly.com/question/11987120
#SPJ4
This is really for Economics but...
How are wages affected by the market?
Answers
Answer:
They could help give stock to the store/s that's using them. Or, they are the ones getting money for the produce or business, but it helps them get more and more resources for their store.
Explanation:
Answer:
Economists argued that wages are determined by demand and supply.They called it the theory of wage determination They said The price of labor is determined in the free market like every other price by intersection,Supply and demand.
Explanation: that took me a moment to think that out for it to be understandable so it doesn't disorient you
In business writing, the main idea of a written work should be located
a. At the end of the first paragraph
b. In the body of the document
At the beginning of the first paragraph
d. In the salutation of the document
C.
Please select the best answer from the choices provided
Ο Α
B
С
OD
Answers
Answer:
c
Explanation:
cccccccccccccccccccccccccc
Answer:
well i blive its c
Explanation:
What do you think are the most important components of budgeting? Why?
Answers
Answer:
I would have to say figuring out ur cash flow where its going after u earn it and making sure u keep track of ur savings
Explanation:
Which characteristic is most important for the Urban Commuter segment?
a.Capacity
b.Comfort
c.Durability
d.Waterproof
e.Eco-friendly
Answers
The answer is b. Comfort, is the characteristic is most important for the Urban Commuter segment.
What does a commuter look like?One who travels a long distance to work, typically from a suburb to a city, is referred to as a commuter. Some people are fortunate enough to reside close to their place of employment or to work from home. Others are commuters, who must travel to and from work.
Who commutes versus who lives there?Students at a residential school live and learn all across campus. Students are arriving at a commuter campus for classes. They often leave school after that for the day.
To know more about Commuter visit:
https://brainly.com/question/13678751
#SPJ1
what effect will a sudden increase in the volatility of gold prices have on interest rates?
Answers
The increased volatility of gold prices makes bonds relatively less risky relative to gold and causes the demand for bonds to increase and interest rates fall.
Supply and demand, interest rates (and expectations for interest rates), and investor behavior with regard to risk all influence the price of gold. Although it sounds straightforward, the way those elements interact is occasionally perplexing. For instance, a lot of investors view gold as a hedge against inflation.
Given that paper money loses value as more is issued but gold's supply remains fairly stable, this has some element of realism. The link between gold and inflation is, however, at best tenuous. The short-term performance of gold is much better predicted by interest rates and overall market volatility.
Learn more about gold prices here:
https://brainly.com/question/15872372
#SPJ1
Option 1: 1,811 square feet, 2-3 bedroom, 2 bath house that arrives in 4 modules. It includes the upgraded PEX piping and fiber cement siding that Xavier saw on the tour. The price for Option 1 would be $180 per square foot.
Option 2: 2,600 square feet, 3-4 bedroom, 3 bath house that arrives in 5 modules. It also includes the upgraded PEX piping and fiber cement siding. The price for Option 2 is $195 per square foot.
Sabrina also explains that Xavier must have certain things ready ahead of time, such as electric, sewer, and water systems, as well as a foundation in place. She gives him the name of a transport company that would oversee bringing Xavier’s modules to his house site. On your math sheet, complete the following problems that will help Xavier choose from the two options Sabrina has presented him:
Math Problem 3: Calculate the total price for Option 1
Use this formula to help you solve the problem:
Total Square Feet × Number of Square Foot=Total Price
Math Problem 4: Calculate the total price for Option 2
Use this formula to help you solve the problem:
Total Square Feet × Number of Square Foot=Total Price
Xavier contacts the transport company and is put in touch with one of the drivers, Kevin. Because the modules need to be connected quickly once they reach his build site, Xavier wants to know if he can have them all delivered on the same day. Kevin says that this would be possible using one truck per module. The fee for transporting each module is 20 cents per truck per mile, plus the cost of fuel. The factory is 350 miles from Xavier’s build site, and Kevin estimates that each truck will need $500 worth of gas.
On your math sheet, complete the following problem to help Xavier find out how much he will spend on transportation costs:
Math Problem 5: Calculate Xavier’s transportation cost to have the modules delivered on the same day
Use this formula to calculate Xavier’s cost:
[(.20 × miles)+500]× number of modules
Part 2: Job Board
Xavier is excited but knows this is a huge project. Help Xavier stay organized by creating a job board for him. A job board is like a bulletin board that holds important information about a big project. This way, he can see the important aspects of his job, along with his costs. To do this, you will be taking the answers to the math questions above and creating items that Xavier can hang on his job board to remind him of the choices he should make in this project. You may select to create your job board in poster form or digitally in a word processing document. Either way, the job board should include the following pieces of content:
A rough drawing of Xavier’s lot that includes the lot measurements provided above.
Make sure that you include the total area of the lot that you calculated in Math Problem 1 somewhere on this drawing.
A sketch of the prefabricated house option that you suggest Xavier purchases (either Option 1 or Option 2).
Make sure that you include his final price that you calculated in Math Problem 3 or 4.
Also, be sure to label the upgraded technology that was included in the option you chose so that Xavier can point it out to his building inspector when the time comes.
A graphic representation (photo, clip art, etc.) of a truck with the final transportation cost on it (this is the answer to Math Problem 5).
Answers
If the price is $180 per square foot, the price of the lot will be $3,240,000
How to find the price of the lotTo calculate Xavier cost, we need to first calculate the area of the lot (trapezium)
Area of the trapzium = 1/2(a+b)h
h is the height of the trapezium
a and b are the sides
Area of the trapezium = 1/2(175+185)*100
Area of the trapezium = 1/2(360)*100
Area of the trapezium = 18000 square foot.
If the price is $180 per square foot, the price of the lot will be 18000 * 180 = $3,240,000
Read more about algebra here:
https://brainly.com/question/432678
#SPJ1
