A linear cost function is C(x) = 2x + 400. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope 2 C-intercept 400 (b) What is the marginal cost MC ? MC = What does the marginal cost mean? If production is increased by this many units, the cost increases by $1. Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? $ (d) How are your answers to parts (a), (b), and (c) related? slope = fixed costs, and C-intercept = marginal cost C-intercept slope = marginal cost slope C-intercept = marginal cost slope = marginal cost, and C-intercept = fixed costs (e) What is the cost of producing one more item if 50 are currently being produced? $ What is the cost of producing one more item if 100 are currently being produced? $

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units