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Is the area under the marginal cost curve equal to the total variable cost?
yes
What is difference between change in supply and change in quantity supplied?
a change in supply is the shift in supply curve due to change in price of other commodities and other factors like taste,weather,income e.t.c while a change in quantity supply is the change in price of the commodity itself that affect the quantity supply,here the supply curve remain constant but there will be a movement along the supply curve.
An 80 learning curve has been observed for the production of the MEERKAT system. If the 5th production unit's recurring cost is 2 million what will be the recurring cost for the 10th production unit A?
To calculate the recurring cost for the 10th production unit using an 80% learning curve, we can apply the learning curve formula. The cost of the nth unit (C_n) can be determined by the formula ( C_n = C_1 \times n^{\log(L)/\log(2)} ), where L is the learning rate and C_1 is the cost of the first unit. Since we know the cost of the 5th unit (C_5 = 2 million), we can first calculate C_1. With an 80% learning curve, the recurring cost for the 10th unit will be approximately 1.5 million.
The first unit required 9800 hrs to manufacture The company expects to experience an 82 percent unit learning curve What is the estimate the cost of the 20th unit?
To estimate the cost of the 20th unit using an 82% learning curve, we first calculate the hours for the 20th unit. The formula for the learning curve is ( Y = aX^b ), where ( Y ) is the time for the nth unit, ( a ) is the time for the first unit, ( X ) is the unit number, and ( b ) is the log of the learning curve percentage divided by the log of 2. Here, ( a = 9800 ) hours, ( b = \log(0.82) / \log(2) ). Applying this, the estimated hours for the 20th unit would be approximately 4,913 hours. To find the cost, multiply the hours by the cost per hour (if provided).
An 80 learning curve has been observed for the production of the MEERKAT system. If the 5th production unit's recurring cost is 1 million what will be the recurring cost for the 10th production unit A?
To calculate the recurring cost of the 10th production unit using an 80% learning curve, we apply the formula: C_n = C_1 * n^(log(learning curve)/log(2)), where C_n is the cost of the nth unit, C_1 is the cost of the first unit, and n is the unit number. Given the 5th unit's cost is 1 million, first, we need to find C_1, which can be estimated, and then calculate the cost of the 10th unit. The cost for the 10th unit will be approximately 0.8 times the cost of the 5th unit, leading to a recurring cost of about $800,000.
Ceteris paribus the price level will fall when A The aggregate supply curve shifts to the left B The aggregate demand curve shifts to the left C The aggregate demand curve shifts to the right?
b
How would a rise in business affect the aggregate demand curve?
The aggregate demand curve shifts to the right
How would a rise in the business investment affect the aggregate demand curve?
The aggregate demand curve shifts to the right
An decrease in taxes shifts the aggregate demand curve to the?
right
When the demand curve shifts to the right, we say that what?
When the demand curve shifts to the right, we say that there has been an increase in demand.
An increase in interest rates affects aggregate demand by?
An increase in interest rates decreases the aggregate demand shifting the curve to the left.
Explain movements along the aggregate demand curve and shifts of the aggregate demand curve?
Movements along the aggregate demand curve are caused by changes in price level - real wealth effect, interest rate effect and open economy effect. If some non-price level determinant causes total spending to increase/decrease then the curve will shift to the right/left - consumption, investment, government expenditure, net exports.
What is aggregate shock?
In economics, the supply curve in the aggregate supply and demand model shifts drastically to the left due to an inadequacy of resources or because the demand overpowers the supply.
Fiscal and monetary policies are used to shift the aggregate supply curve or the aggregate demand curve?
Aggregate demand curve.
What happens with an increase in deficit spending?
the demand for loanable funds will increase, interest rates will increase
How does an increase in demand shift the supply and demand curve to the left or right?
An increase in demand shifts the supply and demand curve to the right. This means that both the quantity demanded and the price of the product will increase.
Can the aggregate demand curve move independently of the aggregate supply curve?
Yes, the aggregate demand curve can move independently of the aggregate supply curve. Factors such as changes in consumer confidence, monetary policy, and fiscal policy can shift the aggregate demand curve without directly affecting aggregate supply. For example, an increase in government spending can boost aggregate demand while aggregate supply remains unchanged in the short term. However, over time, changes in demand can influence supply as businesses adjust to new economic conditions.
