A taxi company currently has 9 cabs in its fleet and its

Assignment Help Microeconomics
Reference no: EM13377563

A taxi company currently has 9 cabs in its fleet, and its total daily cost is $4,750. If a taxi company adds a tenth cab, the company's total daily cost will increase to $4,800 and its total revenue will increase by $100 per day. Should the company add the tenth cab?

Reference no: EM13377563

Questions Cloud

Determine what fiscal policy measure has a more direct : determine what fiscal policy measure has a more direct impact to the economy1. an increase in government spending or2.
Suppose you live and work in cleveland earning a salary of : suppose you live and work in cleveland earning a salary of 75000 per year and spending 10000 for housing. you heard
Integrative-investment decision holliday manufacturing is : integrative-investment decision holliday manufacturing is considering the replacement of an existing machine. the new
Case studythorn ltd produces and sells three products - x y : case studythorn ltd produces and sells three products - x y and z. relevant information is given below.nbspnbspproduct
A taxi company currently has 9 cabs in its fleet and its : a taxi company currently has 9 cabs in its fleet and its total daily cost is 4750. if a taxi company adds a tenth cab
What is the effect on the economic well-being of a nation : what is the effect on the economic well-being of a nation when a tariff is imposed? consult a newspaper and identify an
Part-11 assume that the managers of fort winston hospital : part-11 assume that the managers of fort winston hospital are setting the price on a new outpatient service. here are
In 2009 the fed initiated a program called qe or : in 2009 the fed initiated a program called qe or quantitative easing to try and stimulate the economy. using a fully
Develop a corporation chart of accounts taking into : develop a corporation chart of accounts taking into consideration the followingmiddotcapital structure debt and or

Reviews

Write a Review

Microeconomics Questions & Answers

  What determines the strength of a firms demand

Why do firms demand resources? In what way is a firm’s demand for a resource a derived demand? How does this differ from consumers’ demand for final commodities?

  Discuss the accuracy of a forecast

New Horizons Airlines wants to forecast the mean number of unoccupied seats per flight to Germany next year.To develop this forecast, the records of 49 flights are randomly selected from the files for the past year, and the number of unoccupied sea..

  How to maximize the profit

If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then how he would maximize his profits.

  Determine gdp,ndp,gnp,nnp,ni,pi and di

Determine GDP,NDP,GNP,NNP,NI,PI,DI,S. Comment on savings magnitude that you have determined.

  Do brief research on asean economic community

Question:  Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?

  Domestic interest rate would affect international investment

Explain how a +0.5% adjustment in domestic interest rates would affect international investment flows. Determine if such a change would have a bigger impact on larger or smaller countries.

  Find the trade discount amount and the net price

The list price of an orange dial Luminox watch is $650. Katz Jewelers receives a trade discount of 30%. Find the trade discount amount and the net price.

  Explain which conveys a positive externality

Consider two ways to protect your car from theft. The Club(a steering wheel lock) makes it difficult for a car theif to take your car. Lojack(a tracking system) makes it easier for the police to catch the car thief who has stolen it.

  Classify price floors and ceilings as type of market failure

Markets are a very good way to organize economic activity in our economy. Why do we classify price floors and ceilings as a type of market failure and why does the government need to get involved in these types of markets

  What is the values of the demand elasticities

Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?

  Explain the three types of goods

Explain the three types of goods:  search goods, experience goods and credence goods.  What type of advertising would firms likely use for each type of good and why?

  Concept of the law of diminishing returns

Describe the concept of the law of "diminishing returns" and why does it take place only in short run? Differentiate between "the long run return to scale" and "economies of scale."

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd