Mathematics, 13.03.2021 01:20, ineedhelp2285
Suppose Alex owns a business making quilts that generates $7,000 a month in revenue. Each month, Alex spends $1,500 on fabric and other sewing materials, and he pays his two employees a combined total of $4,000 per month (they each earn $2,000). Alex makes his quilts in a workshop he has set up in his basement. If Alex did not own the quilt business, he would work as a yoga instructor earning $2,300 per month, and he would use the basement as a TV room, an option he would value at $40 per month.
a. What is Alex's accounting profit?
Instructions: If you are entering a negative number, be sure to include a negative sign (-).
$
b. What is Alex's economic profit?
Instructions: If you are entering a negative number, be sure to include a negative sign (-).
$
c. If the market for quilts is perfectly competitive, and other quilt producers face the same costs as Alex, then what would you expect to happen to both the number of firms making quilts and the equilibrium price of quilts in the long run. Briefly explain.
multiple choice
a.) You would expect firms to enter the industry. This would lead the equilibrium quantity of quilts to rise and the equilibrium price to fall.
b.)You would expect firms to exit the industry. This would lead the equilibrium quantity of quilts to fall and the equilibrium price to rise.
c.)You would expect firms to exit the industry. This would lead the equilibrium quantity of quilts to rise and the equilibrium price to fall.
d.)You would expect firms to enter the industry. This would lead the equilibrium quantity of quilts to fall and the equilibrium price to rise.
Answers: 2
Mathematics, 21.06.2019 15:00, maraa013001
Use addition and subtraction to simplify the following polynomials. a. add polynomials: (3 – 4x + 8x^2) + (–6 + 2x – 5x^2) step 1: rewrite the polynomials without the parentheses. step 2: write the polynomial in descending order and use parentheses around like terms. step 3: add the like terms identified in step 2 to simplify the polynomial. b. subtract polynomials: (3x – 5 – 7x^2) – (–2 + 6x^2 – 5x) step 1: rewrite the polynomials without the parentheses. remember to multiply each term in the second parentheses by –1. show your work. step 2: write the polynomial in descending order and use parentheses around like terms. step 3: add the like terms identified in step 2 to simplify the polynomial.
Answers: 3
Mathematics, 21.06.2019 20:00, haleysmith8608
Given the graphed function below which of the following orders pairs are found on the inverse function
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Suppose Alex owns a business making quilts that generates $7,000 a month in revenue. Each month, Ale...
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