What is the total fixed cost for blue-steel corporation

Assignment Help Microeconomics
Reference no: EM132473126

The Blue-Steel Corporation supplies armored truck manufacturers with high-grade sheet metal panels that are used on the exterior of the vehicles. To make the panels, Blue-Steel uses two machines, which cost $15,000 each, and workers. These workers are available on the labor market for a salary of $55,000 each. The market price for one of Blue-Steel's metal sheet panel is $250 and the market is highly competitive.

a. Based on the information provided, calculate the missing values for Table 1.

B. What is the total fixed cost for Blue-Steel Corporation? Explain your calculation.

c. What is the profit-maximizing number of workers Blue-Steel should hire? Explain your answer

D. What is the profit-maximizing output for Blue-Steel based on your calculations?

E. Construct an X-Y Scatter chart using the Workers, Total Output, and MP-Labor column data. At what point does the diminishing returns effect set in?

Reference no: EM132473126

Questions Cloud

Should paralegals and legal assistants be licensed : Do you think Maria is right in her belief that licensure is not much of a step beyond certification, which many states have and which paralegals can earn
Prepare a multiple step income statement for fiscal year : Prepare adjusting journal entries to reflect each epreciation expense on store equipment, a selling expense, is $1400 for the fiscal year
Compute the variable overhead spending variance : During 2016, Bluecap worked 28,000 direct labor hours and manufactured 9,600 units. Compute the variable overhead spending variance
Maintain consumption and government spending : Suppose that the country begins to trade with other countries. If it manages to maintain consumption and government spending
What is the total fixed cost for blue-steel corporation : Based on the information provided, calculate the missing values for Table 1. What is the total fixed cost for Blue-Steel Corporation?
Solve for equilibrium level of investment : Solve for equilibrium output when the interest rate is i. Assume c1 + b1
Prepare journal entries for laplante to record the sale : Please prepare journal entries for Laplante to record (1) the sale on October 2, 2019, (2) the granting of the allowance on October 16, 2019
When dividing to get the opportunity cost : Where do the numbers like 490450 come from on #1 when dividing to get the opportunity cost?
Calculate the opportunity cost of one movie : Calculate the opportunity cost of one movie in terms of an ice cream cone.

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss briefly the shape of the yield curve

The yield of a 1-year bond is 3%, the yield of a 3-year bond is 5%, and the expectation on a 1- year bond sold in two years is 4%.

  A decrease in the price level might cause

A decrease in the price level might cause: A. an increase in the quantity of aggregate demand because of the substitution effect. B. An increase in the quantity of aggregate demand because of the wealth effect. C. A decrease in the quantity of aggreg..

  Three factors play in the process of capital accumulation

Define the terms "constant capital," "variable capital," and "surplus value." What role do these three factors play in the process of capital accumulation?

  Discuss and identify general characteristics of organization

Discuss and clearly identify the general characteristics of the organization, as well as the proposed ERP system.

  Compare your level of confidence

Compare your level of confidence at the time you completed Part I to your confidence level for Part II, when you used this decision aid.Was it helpful? What were its advantages and disadvantages?

  Economic model indicating a rise in income

An economic model indicates that a rise in income will result in consumers purchasing fewer fast food meals, ceteris paribus. "Ceteris paribus" means

  Identify two news stories about the issue or debate

Identify and discuss one current event/issue related to politics and economic policy. Identify two news stories about the issue or debate.

  Discuss the long run implication of monopolistic competition

Discuss the long run implications of monopolistic competition with respect to (a) utilization of plant, (b) allocation of resources, and (c) advertising and product differentiation. Compare this to the situation of perfect competition.

  Find minimum price at which countries will engage in trade

Consider two countries: South Korea and Taiwan. Taiwan can produce one million mobile phones per day at the cost of $10 per phone and South Korea can produce.

  Explain the determinants of demand and supply for the

write a 700-1000 word paper in which you address the questions abovenbspusing the guide below. also do your best to

  Consider a hypothetical example of trade between the united

Consider a hypothetical example of trade between the United States (a developed country) and Brazil (a developing country) is as followU.S. Exports ($b) to Brazil U.S. Imports ($b) from BrazilLotion & Powder 80 65Perfume 70 120

  Health expenditures in the u.s. have increased from

Health expenditures in the U.S. have increased from 5% of GDP to 17% of GDP over the past 50 years. List and explain the 3 reasons for this increase.

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