Answer:
Josefina is not maximizing her profits since she is making a loss of $0.25.
Explanation:
The marginal revenue is the total amount of revenue received from selling an additional unit of product while the marginal cost is the total cost incurred for producing an additional unit of product. The marginal cost and revenue can be compared to determine if producing and selling an additional unit is profitable or will cause a loss.
The profit/loss can be expressed as;
P/L=R-C
where;
P=profit
L=loss
R=total marginal revenue
C=total marginal cost
In our case;
P/L=unknown
R=marginal revenue per unit×number of units=1.50×1=$1.50
C=marginal cost per unit×number of units=$1.75×1=$1.75
replacing;
P/L=1.50-1.75=-$0.25
Since the marginal cost is greater than the marginal revenue, we can conclude that Josefina is making a loss of $0.25
Answer:
The answers are It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers. And It is true that without government regulation, natural monopolies can earn positive profit in the short run.
Explanation:
It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers.
Without government regulation, natural monopolies can earn positive profit in the short run. It is a true statement.
Answer:
a) 67% of filers surveyed plans to file their taxes electronically.
b) 613 people will use the professionals to prepare their taxes.
Explanation:
Given that;
survey shows 684 of 1021 people would most likely file electronically.
a)
to estimate the percentage of all taxpayers who file electronically, we say;
(684 / 1021) * 100% = 0.6699 = 0.67
therefore 67% of filers surveyed plans to file their taxes electronically.
b)
Given that 60% ( 0.6 ) said they would us professionals, now to find how many people did it this way, we say;
( 60 / 100) * 1021 = 612.6 = 613 (we are talking about number of person)
so 613 people will use the professionals to prepare their taxes.
Great would need to ask the following questions
Are variable expenses unpredictable?
Is her quality of life already under pressure from current payment plans?
Are current fixed expenses a financial burden?
If Greta can reasonable predict her variable expenses and know that her current income is enough to handle fluctuations, then should can proceed with the purchase.
Answer:
Confidence Interval is 139.04 - 142.96
Explanation:
The formula for a confidence interval is as follow:
Mean (Average price) +/- z-score x standard deviation / sqrt(n)
Formula Interpretation:
Mean = $141
z-score for 95% confidence interval = 1.96
standard deviation = $4
n = 16 --> sqrt (n) = 4
By using these inputs, we can calculate the confidence interval as follow:
141 +/- 1.96 x (4/4)
Confidence Interval is 139.04 - 142.96
