Ralph opened a small shop selling bags of trail mix. The price of the mix is $5,
Question:
a. At what quantity will Ralph produce? Why?
b. When the price is $5, shade the area of profit or loss in the graph provided and calculates Ralph€™s profit or loss (round up).
c. If all other sellers of trail mix have the same marginal and average costs as Ralph, should he expect more or fewer competitors in the future? In the long run, will the price of trail mix rise or fall? How do you know? What will the price of trail mix be in the long run?
Transcribed Image Text:
Price Marginal cost AC 2 4 6 8 10 12 14 16 18 20 22 24 Quantity
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (15 reviews)
a Ralph will produce where marginal cost equals marginal ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Distribution Solutions, Inc., (DSI) is a regional distributor providing logistical support for merchandisers over a tristate area. Its distribution centers have been profitable until recently. DSI...
-
The first case at the end of this chapter and numerous subsequent chapters is a series of integrative cases involving Wal-Mart Stores, Inc. (Walmart). The series of cases applies the concepts and...
-
If the French home currency were to greatly appreciate in value compared to the English currency, what is the likely impact on the East Winery? a. Make the firm less competitive in the English...
-
Organizational buyers are ________.
-
Why is tax minimization different from efficient tax planning?
-
Andy Bernard is concerned with control over mail receipts at Andys Sporting Goods. All mail receipts are opened by Ed Helms. Ed sends the checks to the accounting department, where they are stamped...
-
The catalytic dehydrogenation of 1-butene \[ \mathrm{C}_{4} \mathrm{H}_{8}(\mathrm{~g}) ightarrow \mathrm{C}_{4} \mathrm{H}_{6}(\mathrm{~g})+\mathrm{H}_{2}(\mathrm{~g}) \] is carried out at \(900...
-
Resistors for electronic circuits are manufactured on a high-speed automated machine. The machine is set up to produce a large run of resistors of 1,000 ohms each. To set up the machine and to create...
-
Activity 1: The Components of a Vector Rx = Ax+ Bx Open the Vector Addition simulation (https://phet.colorado.edu/en/simulation/vector-addition) and select the Explore 2D screen. The a few minutes to...
-
A crate of mass 300 kg is raised by an electric motor through a height of 60 m in 45 s. Calculate: a. The weight of the crane (g = 10 N/kg) b. The useful work done. c. The useful power of the motor...
-
In this chapter, we discussed the story of Dalton, Georgia, and its role as the carpet capital of the world. A similar story can be used to explain why some 60% of the motels in the United States are...
-
In the competitive childrens pajama industry, a new government safety regulation raises the average cost of childrens pajamas by $2 per pair. a. If this is a constant cost industry, then in the long...
-
How might you extend the notion of multidimensional data analysis so that the target variable is a qualitative variable? In other words, what sorts of summary statistics or data visualizations would...
-
What resources will you need to carry out your investigation?
-
What does Hofstede's Uncertainty Avoidance Dimension refer?
-
What should you consider when preparing the load/client?
-
Match each theoretical perspective to the corresponding approach to outsourcing. symbolic interactionism conflict theory structural functionalism Outsourcing is necessary to keep both national and...
-
Who has completed the failure containment training. What Failure Modes to monitor and check for. Processes to follow when an out-of-control condition occurs. Reasons why specific defect prevention...
-
Silver Ridge Plumbings year end is October 31. The companys trial balance prior to adjustments follows: Additional information: 1. The equipment has an expected useful life of 10 years. The vehicles...
-
When you weigh yourself on good old terra firma (solid ground), your weight is 142 lb. In an elevator your apparent weight is 121 lb. What are the direction and magnitude of the elevator's...
-
Imagine that Congress passes a constitutional amendment requiring the U.S. government to maintain a balanced budget at all times. Thus, if the government wishes to change government spending, it must...
-
Suppose there is a permanent fall in private aggregate demand for a countrys output (a downward shift of the entire aggregate demand schedule). What is the effect on output? What government policy...
-
Why does a temporary increase in government spending cause the current account to fall by a smaller amount than does a permanent increase in government spending?
-
4 Smallman's Garage uses standards to plan and control labor time and expense. The standard time for an engine tune-up is 3.75 hours. and the standard labor rate is $15 per hour. Last week, 26...
-
For Kosko Company, actual sales are $1.218,000 and break-even sales are $962,220. Compute (a) the margin of safety in dollars and (b) the margin of safety ratio. Margin of safety Margin of safety...
-
Sheridan Corp. had total variable costs of $224.200 total hied costs of $143500, and total revenues of $380.000. Compute the required sales in dollars to break even
Study smarter with the SolutionInn App