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enot [183]
1 year ago
8

You are economic consultant for Jack, who farms raw cotton in a perfectly competitive market. One day he gives you the following

data at his present level of production: Output = 2000 pounds, market price = $5.00, total cost =$8000, fixed cost=$2000, marginal cost=$5. The minimum of AVC occurs at {1000 pounds at $2} and the minimum of ATC at {1500 pounds at $3.5}. Please help Jack with the following questions based on the above figures: a. Draw a graph for the raw cotton market and a graph for Jack’s farm current situation that includes MC, ATC, and AVC, labeling all relevant points on axes with numerical values. Is Jack maximizing the profit (minimizing the loss)? Why or why not? Label the total profit/loss area.
b. Suppose more farmers enter the raw cotton market until the market price is $3.00 per pound. On the same graphs, show the effect of this change in the market place. Would you like to suggest Jack leaving the market in the short run? Explain your answer.
Business
1 answer:
Diano4ka-milaya [45]1 year ago
7 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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In your own words, briefly describe the benefit of each type of alert below: a. Low Balance b. Mobile Deposit c. Unusual Activit
pshichka [43]

Answer:

Explanation:

a. Low Balance: You can set up your bank account for this alert on a threshold which you want to make. This alert inform you about the low balance in your bank account when it touches to the threshold you set up that may be any amount for example 50$ or 500$ or 1000$ so that you know that you shouldn't . It facilitate you to safe from the expenses like OD etc.

b. Mobile Deposit. You always receive a text message whenever you used your smartphone to deposit the check with it. It may be act as a receipt for the check submission while using with your smartphone.It also provide you a facilitation when the check is cleared and deposit received in your bank account

c. Unusual Activity. This type of alert message received while bank detects an unusual activity which could be fraud etc.For example the transactions which are made unusual and which may not be your regular activity with your account.It could also occur when your account transaction has been made outside of your normal living etc area

2.

The most important type of alert would be the Unusual Activity as it involves the risk more that other two alerts.

5 0
1 year ago
Cliff Company traded in an old truck for a new one. The old truck had a cost of $130,000 and accumulated depreciation of $65,000
RSB [31]

Answer:

the recorded value of the new truck is $135,000

Explanation:

The computation of the recorded value of the new truck is given below;

In the case when the transaction has the commercial substance so the recorded value of the new truck would be equivalent to the invoice price or the fair value i.e. $135,000

Hence, the recorded value of the new truck is $135,000

The same would be considered and relevant

And all other values are to be ignored

4 0
1 year ago
Which of the following has the greatest impact on your cash flow?
Deffense [45]

Answer:

 

Low-priced inventory with high turnover

Explanation:

GOT IT RIGHT IN QUIZ

6 0
2 years ago
Dave operates his business out of a small storefront, so he does not have a lot of shelf space for his products. Recently, a sec
Verizon [17]

Answer:

Hence , product 1 should be allocated the shelf space

Explanation:

<em>Whenever a company is faced with a situation of large  shortage in resources, To maximize the  use of the resource in short supply the business should allocate the resource to the product that maximizes the contribution per unit of the scare resource.</em>

For example, the resource in short supply here in the question is the shelf space , <em>hence the contribution per shelf should be used to decide how to allocate the available shelf space to the product.</em>

<em>Product 1 gives a contribution per unit of shelf space of $2000 which is higher by $800 that of product 1. </em>

Hence , product 1 should be allocated the shelf space

3 0
1 year ago
To lease a new car, you must make a down payment when you sign the lease, then pay $199 per month. six months after signing his
mylen [45]

The solution for this problem is:

Let x be the number of months; and

Let y be the amount paid

We know that m is $199 per month and the two other given are 6 months and 2694.

 

y = 199 (x -6) + 2694

y = 199 (36 -6) + 2694

y = 199 (30) + 2694

y = 8664

 

Mr. Scott paid $8664 after 3 years.

<span> </span>

3 0
2 years ago
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