Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 11, 2024

The marginal benefit of eating quinoa is given by $30 - 0.3*Q and the marginal cost of producing quinoa for sale in stores in the

The marginal benefit of eating quinoa is given by $30 - 0.3*Q and the marginal cost of producing quinoa for sale in stores in the US is $20 3* Q, where Q is in tons. What are the equilibrium price and quantity? Please show your work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial economics

Authors: william f. samuelson stephen g. marks

7th edition

9781118214183, 1118041585, 1118214188, 978-1118041581

More Books

Students also viewed these Economics questions

Question

★★★★★

1. Microsoft and RIM were selling smartphones several years before Apple and Google entered the market. Why then do you think Apple and Google's Android phones are now starting to dominate the...

Answered: 1 week ago

Question

★★★★★

A lot of discussion is taking place regarding the integration of social media and other forms of marketing activity. To what extent does real time marketing' lead to the possible fragmentation of...

Answered: 1 week ago

Question

★★★★★

=+Perform a process capability analysis on the fudge shop and comment on your findings

Answered: 1 week ago

Question

★★★★★

Mainland Resources Inc. began operations on June 5, 2014. Journalize the following equity transactions that occurred during the first month ofoperations: 2014 5 Gave 4,000 common shares to the...

Answered: 1 week ago

Question

★★★★★

Factors That Affect the Bond Issue Price RIVERE ENTERPRISES is considering the issue of $115,000 face value, ten-year term bonds. The bonds will pay 6% interest each December 31. The current market...

Answered: 1 week ago

Question

★★★★★

12. Which of the following ratios should be used in evaluating the effectiveness with which the company uses its assets?Profit Margin on Sales Receivables Turnover Yes; Yes. No; No. Yes; No. No; Yes.

Answered: 1 week ago

Question

★★★★★

Pets-R-Us Adjusted Trial Balance 31-Dec-23 Accounts Debit Credit Cash $165,000 Accounts Receivable 130,100 Inventory 39,500 Land 67,300 Buildings 120,000 Accumulated Depreciation 10,400 Accounts...

Answered: 1 week ago

Question

★★★★★

Five districts make up a province with a 60- seat congress. District populations are given below. Use Jefferson's method to apportion the seats to the districts. How many seats go to District C?...

Answered: 1 week ago

Question

★★★★★

Sophie is the HIM director at Medical Center of Alabama. The Medical Center of Alabama is part of a five-hospital chain and two health clinics known as Hometown Health. Sophie earned her RHIA five...

Answered: 1 week ago

Question

★★★★★

2.18 Given the following project (all times are in days Activity Predecessor Normal time Normal cost Crash time Crash cost A 3 $40 2 $80 B A 2 20 1 80 C A 2 20 2 20 D A 4 30 1 120 E B 3 10 1 80 a....

Answered: 1 week ago

Question

★★★★★

John's accounting firm has been receiving backlash for its lack of inclusivity. John is frustrated with the feedback. John intentionally recruits in diverse neighborhoods and his staff is racially...

Answered: 1 week ago

Question

★★★★★

Pino Bellini works at the Acme Tool and Die Company. He is part of a union. He is sure that he is not being paid the right amount that he is entitled to under the contract. The collective agreement...

Answered: 1 week ago

Question

★★★★★

Explain what you understand by the underlying concept of motivation. Summarise the main needs and expectations to be taken into account in considering the motivation of people to work.

Answered: 1 week ago

Question

★★★★★

To what extent do you think the environmental scanning tools are effective in diagnosing the environment for organizations? Are there situations when they might not be effective? LO5

Answered: 1 week ago

Question

★★★★★

Meredith Co. has five employees, each of whom earns $2,600 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of gross pay and FICA Medicare taxes are 1.45% of gross...

Answered: 1 week ago

Previous Question Next Question