suppose the demand function for corn is Qd=10-2 and supply function is Qs=3p-5. The government is concerned that the market equilibrium price of corn is too low and would like to implement a price support policy to protect the farmers.…
Company XYZ has the following demand function P= 100 – 0.0002Q Its marginal revenue function wasMR = 100 – 0.004Q a. Find the firm’s Total Revenue Functionb. Calculate the output level and price that maximizes total revenue.c. Calculate the amount…
Simple Plant manufactures DNA test strips. Manufacturing overhead is applied to units produced using direct labor dollars as the allocation base. The overhead rate is calculated prior to the beginning of the fiscal year that runs January 1 to December…
1). Alpaca Inc. issued 300,000 shares of no-par common stock at $15 per share. What is the journal entry to record this transaction? 2). Beluga Inc. issued 10,000 shares of $.02 par value common stock at $20 per share. For…
Hardy Company’s cost of goods sold is consistently 60% of sales. The company plans to carry ending merchandise inventory for each month equal to 20% of the next month’s budgeted cost of good sold. All merchandise is purchased on credit,…
Ben Bernanke is known as a student of the Great Depression so if anyone knows what happened and what went wrong during the Great Depression, it would be Ben Bernanke. In this question, we are going to see if the…
Understanding the growth rate and how to measure it.Data: Year Real Per Capita GNP1995 $28,7471996 $29,5201997 $30,5191998 $31,4781999 $32,2382000 $33,7482001 $32,3752002 $32,713 a), Calculate the percentage growth rate in real GNP per capita in each of the years 1996 through…
Suppose the demand for dollars increases by 300 billion at each exchange rate. Explain if the increase in demand results from a large purchase by the Chinese of a new American-made airplane or a large purchase by Americans of new…
Consider the firm with a single factor of production defined implicitly by the relation,z = q3 + 4qwhere z is the variable input and q is output. The firm faces the following average revenue function:p = 10 – 2q,Calculate the…
The Drosselmeier Corporation, located in munich, makes Christmas nutcrackers and has an annual plant capacity of 2,400 product units. Its predicted operating results (in German marks) for the year are:Production and sales of 2,000 units, total sales DM 180,000Manufacturing CostsFixed…
