BUSINESS HIGH SCHOOL

If a monopolist or a perfectly competitive firm is producing at a break-even point, then: i. average revenue is equal to average variable cost
ii. average revenue is equal to average total cost
iii. total revenue is equal to total variable cost
iv. total revenue is equal to total cost

Answers

Answer 1
Answer: If a monopolist or a perfectly competitive firm is producing at break-even point then they're basically equaling their average revenue to the average total cost - ii.

This basically means that they are operating at a level where the amount which they produce relates to the amount they spend. 

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The matching concept states that expenses incurred to produce particular revenues should be matched with those revenues.True False
If a good that generates negative externalities were priced to take into account these negative externalities, then its:A) Price would decrease and its output would increaseB) Output would increase but its price would remain constantC) Price would increase and its output would decreaseD) Price would increase but its output would remain constant
Which statement regarding the "miracle" of war production is most accurate?a.Worker productivity increased, due more to new job opportunities after a long Depression than to any commitment to the war effort.b.Both corporate profits and personal incomes rose, though more flexible smaller firms and wealthier individuals gained the most War.c.production rested on the conversion of peacetime industries, so overall economic output grew very little U.S. achievements in war production.d.proved as important to the Allied victory as success on the battlefield

A company's ________ tells you how much money the company has left over after subtracting all expenses.

Answers

A company's net profit tells you how much money the company has left over after subtracting all expenses.

The revenue would not be an answer because the revenue would be how much earned. 

Answer: A) Net profit

Explanation:

Select the items that describe how the government is involved in the economy.A: provides public goods
B: collects taxes
C: enforces antitrust laws
D: imposes price floors and ceilings
E: carries out fiscal policy

Answers

Public goods are economic products like highways, police, schools, national protection, police, etc. Governments authorities collects taxes and  enforces antitrust laws which protect competition, imposes price floors and ceilings,  carries out fiscal policy.

Your answer is all above: A, B, C, D. E

Answer:

A: provides public goods

B: collects taxes

C: enforces antitrust laws

D: imposes price floors and ceilings

E: carries out fiscal policy

Explanation:

The government is an economic player responsible for regulating the environment so that transactions are executed securely and benefit everyone. Therefore, the government regulates the markets to prevent the occurrence of trusts. The government is also responsible for providing public goods, which are the assets of the whole society, such as squares and parks, and is also responsible for conducting fiscal policy, which consists of tax collection and public spending through investments. Some governments also set price caps or floors for certain goods, such as gasoline. However, this is not a well-evaluated policy. Ideally, the government should not interfere with the prices of goods and services.

What identifies the pattern used for each data series in a chart

Answers

a legend identifies the pattern

Ernesto excels at mathematics and has a keen eye for analyzing information. He is also a skilled communicator and does an excellent job explaining things to other people. Ernesto enjoys using the computer to generate reports to summarize his findings. Which is most likely Ernesto’s job title?

Answers

Answer:

accountant

Explanation:

They make finance reports and have to explain them to people. Dealing with large amounts of money take time and talent and his excels in mathematics.

You are buying a house that is priced at $200,000. You need to make a 10% down payment, and closing costs will be 5%. Which of the following is/are true? I. The amount of the loan will be $200,000 II. Closing costs will be $10,000 III. Closing costs will be $9,000 IV. You will need to bring $29,000 total to the bank in order to get the loan.

Answers

Answer:

Let's break down the information and check which statements are true:

I. The amount of the loan will be $200,000.

  - This statement is true. The house is priced at $200,000, and you are making a 10% down payment, which means you will be taking a loan for the remaining 90% of the house price. So, the loan amount is $200,000.

II. Closing costs will be $10,000.

  - This statement is not necessarily true. You mentioned that closing costs will be 5% of the house price. To find the closing costs, calculate 5% of $200,000: 0.05 * $200,000 = $10,000. So, the closing costs could be $10,000.

III. Closing costs will be $9,000.

  - This statement is not true based on the information provided. The calculation in statement II shows that closing costs are $10,000, not $9,000.

IV. You will need to bring $29,000 total to the bank in order to get the loan.

  - This statement is true. To calculate the total amount you need to bring to the bank, add the down payment and closing costs: 10% of $200,000 (down payment) + $10,000 (closing costs) = $20,000 + $10,000 = $30,000. So, you will need to bring $30,000 in total to the bank to get the loan.

Therefore, statements I and IV are true, while statements II and III are not necessarily true based on the provided information.

Final answer:

The true statements are: Closing costs will be $10,000 and You will need to bring $30,000 to the bank. The loan amount will be $180,000, not $200,000.

Explanation:

Firstly, for a house priced at $200,000, a 10% down payment would be $20,000 (200,000*0.10). Secondly, closing costs will be 5% of the price, which would amount to $10,000 (200,000*0.05). To calculate the total amount you need to bring to the bank, you add the down payment and closing costs, equalling $30,000.

Therefore, the statements that are true are: The closing costs will be $10,000 and You will need to bring $30,000 total to the bank in order to get the loan.

The statement The amount of the loan will be $200,000 is false because the loan amount will be the home price minus the down payment, or $180,000.

Learn more about Home Buying here:

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The consumer price index (CPI) for a given year is the amount of money in that year that has the same purchasing power as $100 in 1983. At the start of 2015, the CPI was 234.1 Write a formula for the CPI as a function of t years after 2015, assuming that the CPI increases by 2.3% every year.

Answers

Answer:

CPI (n) = 234.1 x 1.023ⁿ

Explanation:

Let P be an exponential function of n (time) with a base a:

Consumer price index = P₀ x aⁿ

where

P₀ is the CPI when n = 0, P₀ = 234.1

a = 1 + r (rate of increase) = 1 + 2.3% = 1 + 0.023 = 1.023

the CPI will increase as n increases

CPI (n) = P₀ x aⁿ = 234.1 x 1.023ⁿ
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