Consider a company whose long run total cost function is LTC=200q-20q+q² and whose marginal cost function is LMC = 200-40q+3q² a. Find the quantity where LAC is at a minimum. b. (10 pt) What is the lowest possible average cost?
Answers
it doesn't make sense to have a negative quantity, so we discard this solution.
To find the quantity where the long-run average cost (LAC) is at a minimum, we need to differentiate the long-run total cost (LTC) function with respect to quantity (q) and set it equal to zero.
LTC = 200q - 20q + q^2
To find the derivative, we differentiate each term separately:
dLTC/dq = 200 - 20 + 2q
Setting the derivative equal to zero and solving for q:
200 - 20 + 2q = 0
2q = 20 - 200
2q = -180
q = -180/2
q = -90
However, it doesn't make sense to have a negative quantity, so we discard this solution.
In this case, the long-run average cost function does not have a minimum. It is an upward-sloping curve, indicating that the average cost increases as the quantity produced increases. This means that there is no specific quantity at which the average cost is at a minimum.
Moving on to part b, the lowest possible average cost can be found by calculating the average cost at different quantities and selecting the minimum value.
The average cost (AC) is calculated by dividing the total cost (TC) by the quantity (q):
AC = LTC/q
Substituting the long-run total cost function:
AC = (200q - 20q + q^2)/q
AC = 200 - 20 + q
To find the lowest possible average cost, we need to minimize the AC function. Since the AC function is a linear function with a positive slope, the lowest average cost will occur at the minimum value of q.
However, since we have already determined that the LTC function does not have a minimum, there is no specific quantity at which the average cost is at a minimum. The lowest possible average cost will depend on the specific quantity produced and the corresponding costs associated with that quantity.
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Related Questions
n October 1, Black Company receives a 8% interest-bearing note from Reese Company to settle a $20,200 account receivable. The note is due in six months. At December 31, Black should record interest revenue of
Answers
Black Company should record interest revenue of $402.84 at December 31.
To calculate the interest revenue that Black Company should record at December 31, we need to first determine the number of days between October 1 and December 31. There are 91 days between these two dates (31 days in October + 30 days in November + 31 days in December). Next, we need to calculate the amount of interest that accrues on the note for this period. We can use the simple interest formula: Interest = Principal x Rate x Time Where: Principal is the amount of the note ($20,200) Rate is the annual interest rate (8%) Time is the fraction of the year that the note is outstanding (91/365, or 0.2493) Interest = $20,200 x 0.08 x 0.2493 Interest = $402.84 Therefore, Black Company should record interest revenue of $402.84 at December 31.
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Describe the benefits that a customer would gain from using your enterprises product/service.
Answers
Answer:
Meeting certain requirements and needs. Your product or service could also offer convenience or comfort.
Explanation:
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
in which situation would a savings bond be the best investment to eam interest
Answers
You invested $1,072 in the stock market 2 year(s) ago. Today, the investment is valued at $760. What return did you earn? (Round your final answer to two decimal places and report in percentage form:
Answers
The return earned on the investment is -29.85%.To calculate the return earned on the investment, we can use the formula: Return = (Ending Value - Initial Investment) / Initial Investment * 100
The return on investment is a measure of the profit or loss generated from an investment relative to the initial investment amount. It indicates the percentage change in the value of the investment over a given period.In this case, the initial investment was $1,072, and the final investment value is $760. To calculate the return, we use the formula for percentage change, which compares the difference between the final and initial values to the initial value. In the calculation, we subtract the initial value from the final value and then divide it by the initial value. Multiplying by 100 gives us the result as a percentage. The negative return of approximately -29.10% indicates that the investment has incurred a loss. The value of the investment has decreased by 29.10% over the two-year period.It's important to note that a negative return means that the investment has not performed well and has resulted in a loss.
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does express, inc., use the direct or indirect method to report cash flows from operating activities?
Answers
The express does inc., use the indirect method to report cash flows from operating activities.
How To Use the Indirect Method To Prepare a Cash Flow Statement?One of two accounting techniques that are used to produce a cash flow statement is the indirect method. The indirect method converts the operating component of the cash flow statement from the accrual method to the cash method of accounting by using increases and decreases in balance sheet line items.
The direct technique, which lists actual cash inflows and outflows made during the reporting period, is the alternative approach for completing a cash flow statement. In practice, the indirect method is more frequently employed, particularly by larger organizations.
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Which option identifies the marketing strategy demonstrated in the following scenario?
Department stores often have their own credit cards and mailings sent to card holders that offer incentives such as
percent discounts and early hour shopping days.
O product packaging
customer loyalty
O advertising
word-of-mouth
Answers
Answer: customer loyalty
Explanation:
Help what’s the answer?
Answers
Answer:
The supply would fall
Explanation:
The restaurants wouldn't have as many workers at all times.
For each of the following companies, specify whether each company would be more likely to use job costing or process costing a. Janitorial services company b. Soup manufacturer c. Commercial plumbing contractor d. Toothpaste manufacturer e. Catering service f. Shipbuilder g. Company providing Web design services h. Medical practice of six doctors and four physician assistants i. Soft drink bottler j. Movie studio k. Plastic bottle manufacturer l. Architect m. Temporary staffing agency n. Oil refinery
Answers
Company providing janitorial services; For each of following businesses, indicate whether it'd be more probable to use process costing or job costing.
Which businesses employ process and job costing?Job order costing can be used by enterprises as in white-collar sector of the economy, such as law firms, accounting firms, and private investment firms, to handle specific client accounts. For instance, accounting firms may view every client as a separate task.
Who among the following businesses is most likely to employ process or work order costing?Response and justification A medical clinic, option A, is the correct response. Given that it provides its clients with specialized and one-of-a-kind services, a health care clinic is most likely to adopt a job-order costing system.
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How can I become rich???
Answers
Explanation:
1, Don’t focus on a job, use the income from your job to invest to create different forms of income
2, Fastest way to get rich is to form a business
that's it :)
QUESTION 23 A company loses revenues from regular customers by accepting a special order when operating at capacity. The loss of revenue just described is an example of w following? OaAn unavoidable cost Ob An opportunity cost Oc Asunk cost Od A revenue cost
Answers
The loss of revenue from regular cost customers by accepting a special order when operating at capacity is an example of an opportunity cost.
Opportunity cost refers to the value of the next best alternative that is forgone when a particular decision is made. In this case, the opportunity cost is the revenue that could have been earned from regular customers if the company had not accepted the special order. By accepting the special order, the company sacrifices the potential revenue from its regular customers, which represents the opportunity cost of accepting the special order.
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Which of the following is an advantage of operating a business as a private limited company?
a. It is easier to raise finance as the business can sell shares
b. Owners have unlimited liability
C. Partners can provide specialist knowledge and skills
d. It is very quick and easy to set up
Answers
Answer:
a. It is easier to raise finance as the business can sell shares.
Explanation:
A private limited company can be defined as a type of legal hybrid-business structure that can combine both partnership and corporation form of business, and the owners are only responsible for its debts with respect to the amount of capital they have invested.
Some of the characteristics (features) of a private limited company include;
I. Shares can be issued by the private limited company to raise capital.
II. All the shareholders (owners) of a private limited company have limited liability.
III. After the death of a shareholder, a private limited company will continue to operate its business.
An advantage of operating a business as a private limited company is that it is easier to raise finance as the business can sell shares.
However, one of the disadvantages of a private limited company is that the general public are able to view a summary of their business accounts.
which of the following below is not one of porter's five forces?
Answers
Answer:
Buyer power
Supplier power
Rivalry among existing competitors
Prices of major inputs
Explanation:
High when buyers have few choices of whom to buy from and low when their choices are many
Optimization of Shareholder wealth is not one of porter's five forces.
What is porter's five forces?Porter's Five Forces Framework is a method for analyzing a company's competitive operating environment. It derives five forces from industrial organization economics that determine the competitive intensity and, thus, the attractiveness of an industry in terms of profitability.
Porter's Five Forces is a model that identifies and analyzes five competitive elements that impact every industry and aids in determining the strengths and weaknesses of that industry. The Five Forces analysis is commonly used to determine business strategy by identifying the structure of an industry.
A framework for today ’s dynamic business environment is Porter's Five Forces.
Porter's Five Forces is a widely used framework for assessing the competitive forces that influence a wide range of business sectors.
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what is the difference between an idea and an opportunity
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The primary difference between an idea and an opportunity is that an idea is a concept or thought, while an opportunity is a chance to take action or advantage of a situation.
An idea and an opportunity are two different concepts.
An idea is a concept or thought that is generated in someone's mind, while an opportunity is a chance to take advantage of a situation or idea.
Here are some key differences between an idea and an opportunity:
1. Origin: Ideas are generated internally and are based on the creativity and imagination of the individual, while opportunities are often externally driven by circumstances or events in the environment.
2. Implementation: Ideas are not necessarily actionable until they are transformed into a plan, while opportunities are typically easier to implement as they are already in a state that is ready for action.
3. Outcome: The outcome of an idea may not always be clear or predictable, while an opportunity is typically more concrete and has a clear outcome or goal to strive for.
4. Timing: Opportunities are often time-sensitive and need to be acted upon quickly, while ideas may be developed over time and do not have the same sense of urgency.
Therefore, the primary difference between an idea and an opportunity is that an idea is a concept or thought, while an opportunity is a chance to take action or advantage of a situation.
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If you are unhappy about the current transportation system, which of the following politicians will you vote for?
A. Politicians who advocates going to war abroad
B. Politicians who wants to improve roads and highways
C. Politicians who aim to improve the educational system
D. Politicians who suggest increasing the sales tax
Answers
Answer:
It would be B because these politicians would improve the roads and the means of transportation
This answer is most associated with the topic of the transportation system. The improvement roads and highways would also improve on transportation.
the auditing standards require a material, significant accounts receivable balance to be confirmed in a first year audit. group of answer choices true false
Answers
The statement is true. Auditing standards require that a material, significant accounts receivable balance be confirmed during the first-year audit.
This is because accounts receivable is one of the most important assets for many companies, as it represents money that is owed to the company for goods or services that have already been provided. It is also one of the most vulnerable areas for fraud, as it is easy for unscrupulous employees to manipulate the balances in order to cover up embezzlement or other fraudulent activity.
Confirming accounts receivable balances involves obtaining independent verification from third-party sources, such as customers or banks, that the balances are accurate and valid. This can involve sending out confirmations or other forms of communication to these parties in order to obtain their response. By doing so, auditors can gain greater assurance that the accounts receivable balances reported in the financial statements are reliable and trustworthy.
In summary, auditing standards require that a material, significant accounts receivable balance be confirmed during the first year audit. This is because accounts receivable is a key asset for many companies and is also vulnerable to fraud. By confirming these balances, auditors can provide greater assurance that the financial statements are reliable and trustworthy.
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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What is not a criterion when evaluating financial service providers?
A. financial service provider's history
B. benefits or lack thereof
C. past and current employees
D. emerging technologies
Answers
That which is not a criterion when evaluating financial service providers is this: C. past and current employees.
What are the criteria for evaluating financial service providers?To successfully evaluate the qualification of a financial service provider, the customer must be able to look at their present and past history. They should consider their ability to incorporate emerging technologies into their businesses.
It is not really the business of the consumer to dig out the past and current employees of the business. He should be interested in other relevant factors like the above.
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Bahrain Company made the following merchandise purchases and sales during the April, 2021: April 1 - The beginning inventory balance 500 units at $30 each April 4 - Sold 350 units at $ 40 each April 14 - Purchased 400 units at $ 32 each April 28 - Sold 400 units at $ 50 each.
Answer the following questions assuming that the company uses the First IN First Out (FIFO) method. Note: Write only the final amount - Do not show your calculation 1) What is Cost of goods sold on April 4? 2) What is the inventory balance on April 4? 3) What is the total cost of merchandise purchased on April 14? 4) What is the inventory balance on April 14? 5) What is the Cost of goods sold on April 28? 6) What is the inventory balance on April 28? Ly A Click Submit to complete this assessment.
Answers
Bahrain Company made the merchandise purchases and sales during April 2021 with which the answers for the six sub-questions are $10,500, $4,500, $12,800, $17,300, $12,800 and $8,500 respectively.
Bahrain Company made the following merchandise purchases and sales during April 2021.
The questions are answered assuming that the company uses the First IN First Out (FIFO) method.
April 1 - The beginning inventory balance 500 units at $30 each
April 4 - Sold 350 units at $40 each
April 14 - Purchased 400 units at $32 each
April 28 - Sold 400 units at $50 each.
1. The cost of goods sold on April 4 is $10,500.
2.The inventory balance on April 4 is $4,500.
3. The total cost of merchandise purchased on April 14 is $12,800.
4. The inventory balance on April 14 is $17,300.
5. The cost of goods sold on April 28 is $12,800.
6.The inventory balance on April 28 is $8,500.
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Alyiah works as a marketer for the California Seashell company, which is opening a new store with new product offerings. Alyiah is working on a marketing campaign plan for this new store and has finished her promotional mix and detailed budget portion of the campaign plan. She turns her attention to the communication action plan and is creating the template to capture all of the pertinent information. Which types of information should Alyiah make sure to include in the communication action plan?
Answers
Answer:
She can include information such as timing, type of activity, brief description, audience and owner.
Explanation:
The communication action plan is undertaken for a number of reasons. The objective of the communication action plan is for the assessment, development and implementation of the internal and external communications plan of the business.
The communication action plan would be useful in the maximization of brand equity, brand performance, and the awareness created by the brand, which in line with the mission, vision, and values of the company.
What is a plan for how much to spend and how much to save of ones earnings called?
A. a wish list
B. a personal budget
C. a saving account
D. an investment portfolio
Answers
T/F : Leadership development can take place by using one's immediate superior as a positive or negative model of effective leadership.
Answers
For instance, observing their supervisor could help an individual recognize the kind of communication that is effective and necessary for different kinds of individuals and how to develop an ethical and professional attitude in a corporate culture. This can help them develop their leadership qualities and capabilities.
The statement "Leadership development can take place by using one's immediate superior as a positive or negative model of effective leadership" is TRUE.Using one's immediate superior as a positive or negative model of effective leadership is one way leadership development can take place. An individual can learn how to become a good leader by observing their immediate superior's behavior and habits at work. This can help them to identify which traits are effective in leading a team and which ones are not.For instance, observing their supervisor could help an individual recognize the kind of communication that is effective and necessary for different kinds of individuals and how to develop an ethical and professional attitude in a corporate culture. This can help them develop their leadership qualities and capabilities.
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which of the following is a material used for salad making and dessert that need great care to ensure long shelf life?
A. glass
B. aluminium
C. cast iron
D. stainless steel
Answers
Answer:
I thoughts B becaisedvfdhjdshjhh
Jack wanted a new pair of Nike sneakers that were in sale for 45% off of the original price of $65.
What was the new sale price of the shoes after the discount?
Answers
List and describe three potential rewards of becoming an
entrepreneur that appeal to you
Answers
As an aspiring entrepreneur, there are numerous potential rewards that can be enticing.
Here are three examples:
Independence and Autonomy: One of the most appealing rewards of becoming an entrepreneur is the ability to have control over your own destiny. As an entrepreneur, you have the freedom to set your own goals, make decisions, and shape the direction of your business. This independence allows you to pursue your passion, take calculated risks, and explore innovative ideas without being bound by the restrictions of a traditional job or hierarchical structure. Having the autonomy to build something from the ground up and chart your own course can be incredibly fulfilling and empowering.
Financial Success and Wealth Creation: Another significant reward of entrepreneurship is the potential for financial success and wealth creation. As an entrepreneur, you have the opportunity to build a profitable business and reap the financial benefits that come with it. Unlike a salaried employee, where your income is often limited to a fixed amount, entrepreneurship allows you to create multiple income streams, scale your business, and increase your earnings exponentially. While financial success is not guaranteed and building a profitable business takes time and effort, the possibility of achieving significant wealth is a motivating factor for many entrepreneurs.
Personal Growth and Learning: Entrepreneurship is a transformative journey that offers tremendous opportunities for personal growth and continuous learning. Starting and running a business requires you to acquire a diverse range of skills, such as leadership, problem-solving, adaptability, and resilience. As an entrepreneur, you are constantly faced with new challenges and obstacles that push you outside your comfort zone, forcing you to learn and develop new strategies to overcome them. This process of continuous learning and personal growth can be incredibly rewarding, as it allows you to expand your knowledge, develop your strengths, and become a more well-rounded individual.
It's important to note that while these potential rewards can be enticing, entrepreneurship also comes with its share of risks, uncertainties, and hard work. It requires dedication, perseverance, and the willingness to embrace failures as learning opportunities. However, for many individuals, the potential rewards outweigh the challenges, making entrepreneurship an appealing and fulfilling path to pursue.
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Adams, Inc. recorded the following journal entry on March 2, 2018 Cash 11, 500 Unearned Revenue 11, 500 From the journal entry above, identify the transaction on March 2, 2018. Adams received $11, 500 for services to be performed in a later period. Adams paid $11, 500 for services to be received at a later date. Adams purchased goods worth $11, 500 and signed a one-year note for the same amount. Adams sold goods for $11, 500 cash.
Answers
The transaction on March 2, 2018, based on the journal entry, is:
Adams received $11,500 for services to be performed in a later period.
Based on the journal entry, Adams, Inc. received $11,500 in cash on March 2, 2018, and recorded it as an increase in the Cash account. At the same time, they recorded a corresponding increase in the Unearned Revenue account, indicating that the cash received was for services that will be provided in the future. This transaction represents a prepayment by a customer for services yet to be performed by Adams, Inc. The company will recognize the revenue and reduce the unearned revenue account as the services are provided over time.
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what does a comment in visual basic code begin with
Answers
In Visual Basic code, a comment begins with an apostrophe (').
A comment is used to add explanatory or descriptive text within the code that is not interpreted or executed by the compiler or interpreter. It is a way to document and provide clarity about the purpose, functionality, or logic of the code for future reference or collaboration with other developers.
When an apostrophe is placed at the beginning of a line or after a statement in Visual Basic, the entire line following the apostrophe is treated as a comment and is ignored during the code execution. Comments are helpful for code readability, maintenance, and understanding the code's intent, especially for other programmers who may be working on the same project.
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When management fails to set priorities for work, employees tend to _______. a. Decide which tasks to do by flipping coins b. Schedule tasks over a reasonable period of time c. Assume each task is of equal importance d. Work on one task to completion before moving on Please select the best answer from the choices provided A B C D
Answers
Answer: C. ASSUME EACH TASK IS OF EQUAL IMPORTANCE
Explanation:
its right
Answer:
C. assume each task is of equal importance
Explanation:
Edge 2021
What is it called when you make money on
the percentage of the total sales you make?
Answers
Answer:
Commission
Explanation:
Commission is a payment based on the amount of sales an employee makes and is usually based on a percentage of total sales.
Will's Pizza can make 12 pizzas in 45 minutes. How many pizzas can they make in 4 hours?
Answers
Answer:
sixty four :)