CK
Claudia Kraft
Answers (4)
CK
Answered
Horace properly completed his Form 1040EZ tax return and received a refund from the IRS of $649.Horace had income tax withholding during the year of $2,985.His tax liability for the year was:
A) $649
B) $2,336
C) $2,985
D) $3,634
A) $649
B) $2,336
C) $2,985
D) $3,634
On Jun 19, 2024
B
CK
Answered
Sarah's Pretzel plant has the following short-run cost function: 
where q is Sarah's output level, w is the cost of a labor hour, and K is the number of pretzel machines Sarah leases. Sarah's short-run marginal cost curve is 
At the moment, Sarah leases 10 pretzel machines, the cost of a labor hour is $6.85, and she can sell all the output she produces at $35 per unit. If the cost per labor hour rises to $7.50, what happens to Sarah's optimal level of output and profits?
where q is Sarah's output level, w is the cost of a labor hour, and K is the number of pretzel machines Sarah leases. Sarah's short-run marginal cost curve is At the moment, Sarah leases 10 pretzel machines, the cost of a labor hour is $6.85, and she can sell all the output she produces at $35 per unit. If the cost per labor hour rises to $7.50, what happens to Sarah's optimal level of output and profits?On Jun 16, 2024
First, we need to determine Sarah's optimal output and profits before the increase in the wage rate. The profit maximizing output level is where the market price equals marginal cost (providing the price exceeds the average variable cost). To determine the optimal output level, we need to first equate marginal cost to the market price. That is, 
The average variable cost at this output level is: 
Since 
Sarah will maximize profits at 232.07 units. Sarah's profits are: 
To determine the optimal output level at the higher wage rate, we need to first equate marginal cost to the market price. That is, 
The average variable cost at this output level is: 
Since 
Sarah will maximize profits at 221.79 units. Sarah's profits are: 
The higher wage rate causes Sarah to reduce output and her profits also fall. In this case, profits fall by 4.9% when the wage rate rises by 9.5%.
The average variable cost at this output level is: Since Sarah will maximize profits at 232.07 units. Sarah's profits are: To determine the optimal output level at the higher wage rate, we need to first equate marginal cost to the market price. That is, The average variable cost at this output level is: Since Sarah will maximize profits at 221.79 units. Sarah's profits are: The higher wage rate causes Sarah to reduce output and her profits also fall. In this case, profits fall by 4.9% when the wage rate rises by 9.5%.CK
Answered
Under the common law of contracts,what is the legal status of an improperly dispatched acceptance that was sent by a means of communication that was nonauthorized by the offeror?
A) It is valid but unenforceable.
B) It is invalid but enforceable.
C) It is effective when received.
D) It leads to an immediate revocation.
A) It is valid but unenforceable.
B) It is invalid but enforceable.
C) It is effective when received.
D) It leads to an immediate revocation.
On May 20, 2024
C
CK
Answered
Which of the following is true?
A) To reduce cannibalization among products,reposition a product so that it does not directly compete with the other
B) After acquiring a substitute product,raise prices on both the products
C) After acquiring a complementary product,lower prices on both the products
D) All of the above
A) To reduce cannibalization among products,reposition a product so that it does not directly compete with the other
B) After acquiring a substitute product,raise prices on both the products
C) After acquiring a complementary product,lower prices on both the products
D) All of the above
On May 17, 2024
D