50Q + 3Q2 a. Express total profits (() in terms of Q. b. At what level of output are total profits maximized? What price will be charged? What are total profits at this output level? c. What market structure did you assume? Why? d. Would your answers in b change if the market for sewing machines were competitive? How? (Specify price‚ quantity‚ and profit levels.) 2. Zar Island Gas Company is the sole producer of natural gas in the remote island country of Zar
Premium Marginal cost Economics Game theory
between revenue and ____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently‚ the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: Answer Selected Answer: equals the marginal cost of
Premium Marginal cost Economics Costs
Face book is a social network which allows you to communicate with your family‚ and friends from all around the world. Some people may say that Face book is necessary because they find it to be easier to communicate with their friends and family. Other may say that it is unnecessary because they thought that face book is just another way to keep in touch with their friends and families. Many people around the world use face book to chat with their friends and families. Some of us may find it more
Premium Thought Addiction Mind
LAW OF DIMINISHING MARGINAL UTILITY: The law of diminishing marginal utility describes a familiar and fundamental tendency of humanbehavior. The law of diminishing marginal utility states that: “As a consumer consumes more and more units of a specific commodity‚ the utility from the successiveunits goes on diminishing”. Mr. H. Gossen‚ a German economist‚ was first to explain this law in 1854. Alfred Marshal later onrestated this law in the following words: “The additional benefit which a person
Premium Utility Consumer theory Economics
MARGINAL COSTING AS A COSTING SYSTEM Marginal Costing is a type of flexible standard costing that separates fixed costs from proportional costs in relation to the output quantity of the objects. In particular‚ Marginal Costing is a comprehensive and sophisticated method of planning and monitoring costs based on resource drivers. Selecting the resource drivers and separating the costs into fixed and proportional components ensures that cost fluctuations caused by changes in operating levels‚ as
Premium Costs Marginal cost Cost
Total‚ average‚ and marginal product Total Product Curve The total product (or total physical product) of a variable factor of production identifies what outputs are possible using various levels of the variable input. This can be displayed in either a chart that lists the output level corresponding to various levels of input‚ or a graph that summarizes the data into a “total product curve”. The diagram shows a typical total product curve. In this example‚ output increases as more inputs
Premium Economics Output Derivative
for Revenue Cycle Management and Medical Records Overview Physician practices are being called on to do more than ever before. Today’s physicians must treat more patients‚ document interactions more meticulously‚ wrangle with more complex managed care rules‚ keep track of an ever-expanding array of drugs‚ submit and track claims and pay rising malpractice insurance bills. In many cases‚ physicians must treat 20 percent more patients than they did five years ago to generate the same revenue. In
Premium Physician Medicine Doctor-patient relationship
Are you satisfied with your health or healthcare? Do your doctors listen to you? Are you involved in your treatment? Do your doctors spend enough time with you? Are you getting individualized or personalized treatment? If you answered “no” to any of these questions you should strongly consider researching the options and alternatives available as many already have. Even though there is limited knowledge and acceptance‚ Complementary and Alternative Medicine has proved beneficial and successful
Premium Medicine Alternative medicine
While some people believe censorship to be necessary in some contexts‚ many believe the opposite. Some reasons why censorship is not necessary are that it deprives students of their first amendment rights‚ shapes a student’s mind to think a certain way‚ which is a form of dictatorship. Lastly‚ censorship restricts the student’s and nation’s development. Censorship is about deciding on what content people can see and what people have limited access to. Whether it has qualities that are sensitive to
Premium Education Teacher School
ESTIMATING THE RISK PREMIUM USING HISTORICAL DATA: A CASE OF THE NSE Introduction This study seeks to estimate the risk premium of a company using historical data. Analysts use historical data to estimate the risk premium of a company’s equity. This is because the historical data is readily available from the company’s financial statements and the securities exchanges for example the Nairobi Stock Exchange (NSE) in Kenya. Historical market data can be used to compute average returns and a measure
Premium Risk Financial markets Investment