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    kate is a florist. kate can arrange 20 bouquets per day. she is considering hiring her husband william to work for her. together kate and william can arrange 35 bouquets per day. what is william’s marginal product?

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    get kate is a florist. kate can arrange 20 bouquets per day. she is considering hiring her husband william to work for her. together kate and william can arrange 35 bouquets per day. what is william’s marginal product? from EN Bilgi.

    microeconomics 13 Flashcards

    Start studying microeconomics 13. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

    microeconomics 13

    11 studiers in the last hour

    Some costs do not vary with the quantity of output produced. Those costs are called

    Click card to see definition 👆

    fixed costs

    Click again to see term 👆

    Economists normally assume that the goal of a firm is to

    (i) sell as much of its product as possible.

    (ii) set the price of the product as high as possible.

    (iii) maximize profit

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    D. (iii)

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    1/10 Created by Kyleam8

    Terms in this set (10)

    Some costs do not vary with the quantity of output produced. Those costs are called

    fixed costs

    Economists normally assume that the goal of a firm is to

    (i) sell as much of its product as possible.

    (ii) set the price of the product as high as possible.

    (iii) maximize profit

    D. (iii)

    A firm's total profit equals its marginal revenue minus its marginal cost.

    False

    A production function describes

    how a firm turns inputs into output.

    Economic profit is greater than or equal to accounting profit.

    False

    Suppose Jan started up a small lemonade stand business last month. Variable costs for Jan's lemonade stand now include the cost of

    lemons and sugar.

    Kate is a florist. Kate can arrange 20 bouquets per day. She is considering hiring her husband William to work for her. Together Kate and William can arrange 35 bouquets per day. What is William's marginal product?

    15 bouquets

    Economies of scale occur when a firm's

    long-run average total costs are decreasing as output increases.

    Diminishing marginal product exists when the production function becomes flatter as inputs increase.

    True

    Average total cost is equal to

    total cost/output.

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    Kate Middleton and Prince William coo over babies on St David's Day visit to Wales

    Kate Middleton, 40, and Prince William, 39, shared the sweet exchange during their visit to Wales yesterday as the Duchess told him: 'Look at the lovely babies.'

    'Look at the babies!' Moment 'broody' Kate Middleton and Prince William cooed over little ones their visit to Wales - after she admitted seeing infants 'makes her want another one'

    Duchess of Cambridge was greeted by mothers and babies during visit to WalesRoyal watcher shared video of royal cooing over babies at Abergavenny MarketGrinned and rubbed Prince William's back as she told him to 'look at the babies' Comes after Duchess confessed meeting babies makes her 'broody' last month

    By MONICA GREEP FOR MAILONLINE

    Published: 16:07 GMT, 2 March 2022 | Updated: 17:19 GMT, 2 March 2022

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    509 shares

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    The Duke and Duchess of Cambridge were seen sharing a rare moment of public affection as they greeted a group of babies during their visit to Wales to celebrate St David's Day.

    Mother-of-three Kate Middleton, 40, joined Prince William, 39, as they visited Abergavenny Market to learn how important local suppliers are to rural communities before meeting royal fans.

    In a video posted on Twitter, the couple shared a sweet exchange as they met a group of mothers and babies, with Kate, 40, beaming as she rubbed William's back and told him to 'look at the lovely babies'.

    It comes days after the royal confessed she felt 'broody' and joked husband William, 39, worries about her working with under one-year-olds because she returns home wanting 'another one'.

    Copy link to paste in your message

    Copy link to paste in your message

    The couple shared a sweet moment as they met a group of mothers and babies, with Kate, 40, beaming as she rubbed William's back and told him to 'look at the lovely babies'

    Keep the cold at bay in khaki like Kate wearing Sportmax

    Read more →

    Copy link to paste in your message

    Mother-of-three Kate Middleton, 40, joined Prince William, 39, as they visited Abergavenny Market to learn how important local suppliers are to rural communities yesterday

    The couple, who share children Prince George, eight, Princess Charlotte, six and Prince Louis, three, were seen stopping to chat with the mothers as they left the market.

    Kate and William both donned daffodils to celebrate the traditional Welsh holiday as they embarked on one of their first joint walkabouts since the beginning of the pandemic.

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    Kate opted to wear her £940 longline forest green Sportmax coat with a matching polo neck, as well as black skinny jeans, for the occasion.

    In a touching nod to her decade of duty in the royal family, Kate also finished her outfit with her Aquatalia Rouge boots, which she first wore for her first official engagement in 2011.

    Copy link to paste in your message

    The Duke of Cambridge at Abergavenny Market meeting royal fans as he joined Kate Middleton on a trip to Wales to celebrate St David's Day

    Copy link to paste in your message

    The Duchess at Abergavenny Market meeting a young royal fan during her visit to Wales to mark St David's Day

    It's not the first time in recent months Kate has spoken about feeling broody, joking that meeting babies always makes her want another one while chatting to parents at Copenhagen's Children's Museum.

    At the Children's Museum, Kate heard about the Understanding Your Baby research project which trains health visitors to help new parents as they begin to notice and interpret their babies' behavioural cues.

    After meeting with two eight-month-old baby boys and their parents, she joked: 'It makes me very broody.

    'William always worries about me meeting under one-year-olds. I come home saying, 'let's have another one'.'

    The royal couple visited Wales to learn about the importance of the agricultural industry to rural populations and how community organisations are providing support to young people while also celebrating the history of the region.

    Keep the cold at bay in khaki like Kate wearing Sportmax

    Source : www.dailymail.co.uk

    AP Microeconomics C13

    Find and create gamified quizzes, lessons, presentations, and flashcards for students, employees, and everyone else. Get started for free!

    QUIZ

    AP Microeconomics C13-14-15 Quiz

    AP Microeconomics C13-14-15 Quiz 52%

    14 10th - University Social Studies Kim Hoo 2 years

    70 Qs

    1. Multiple-choice 1 minute Q.

    1. Economists in the field of industrial organization study how

    answer choices

    a. central banking policies affect financial markets.

    b. firms’ demand for labor and individuals’ supply of labor affect resource markets.

    C. firms’ decisions about prices and quantities depend on market conditions.

    D. externalities and public goods affect the environment.

    2. Multiple-choice 1 minute Q.

    . Economists normally assume that the goal of a firm is to

    (i) sell as much of its product as possible.

    (ii) set the price of the product as high as possible.

    (iii) maximize profit.

    answer choices

    a. (i) and (ii) only

    B. (ii) and (iii) only

    c. (iii) only

    d. (i), (ii), and (iii)

    3. Multiple-choice 1 minute Q.

    . When a firm is making a profit-maximizing production decision, which of the following principles of economics is likely to bemost important to the firm's decision?

    answer choices

    A. The cost of something is what you give up to get it.

    b. A country's standard of living depends on its ability to produce goods and services.

    C. Prices rise when the government prints too much money.

    D. Governments can sometimes improve market outcomes.

    4. Multiple-choice 1 minute Q.

    . Total revenue equals

    answer choices

    a. price x quantity.

    b. price/quantity.

    c. (price x quantity) - total cost.

    d. output - input. 5. Multiple-choice 1 minute Q.

    . The Three Amigo’s company produced and sold 500 dog beds. The average cost of production per dog bed was $50. Eachdog be sold for a price of $65. The Three Amigo’s total costs are

    answer choices a. $7,500. b. $25,000. c. $32,500. d. $67,500. 6. Multiple-choice 1 minute Q.

    1. Trevor’s Tire Company produced and sold 500 tires. The average cost of production per tire was $50. Each tire sold for aprice of $65. Trevor’s Tire Company’s total profits are

    answer choices a. $7,500. b. $25,000. c. $32,500. d. $67,500. 7. Multiple-choice 1 minute Q.

    . Kelly has decided to start his own business giving sailing lessons. To purchase equipment for the business, Kelly withdrew$1,000 from his savings account, which was earning 3% interest, and borrowed an additional $2,000 from the bank at aninterest rate of 7%. What is Kelly's annual opportunity cost of the financial capital that has been invested in the business?

    answer choices a. $30 b. $140 c. $170 d. $300 8. Multiple-choice 1 minute Q.

    Scenario

    Suppose that Emily opens a restaurant. She receives a loan from a bank for $200,000. She withdraws $100,000 from herpersonal savings account. The interest rate on the loan is 6%, and the interest rate on her savings account is 2%.

    Emily’s explicit cost of capital is

    answer choices a. $2,000. b. $4,000. c. $12,000. d. $14,000. 9. Multiple-choice 1 minute Q.

    Scenario

    Suppose that Emily opens a restaurant. She receives a loan from a bank for $200,000. She withdraws $100,000 from herpersonal savings account. The interest rate on the loan is 6%, and the interest rate on her savings account is 2%.

    Emily’s implicit cost of capital is

    answer choices a. $2,000. b. $4,000. c. $12,000. d. $14,000. 10. Multiple-choice 1 minute Q.

    Scenario 13-5

    Suppose that Emily opens a restaurant. She receives a loan from a bank for $200,000. She withdraws $100,000 from herpersonal savings account. The interest rate on the loan is 6%, and the interest rate on her savings account is 2%.

    Refer to Scenario 13-5. Emily’s total opportunity cost of capital is

    answer choices a. $2,000. b. $4,000. c. $12,000. d. $14,000. 11. Multiple-choice 1 minute Q. Scenario-2

    Ariana withdrew $400,000 out of her personal savings account and used it to start her new Internet cafe. The savingsaccount pays 3 percent interest per year. During the first year of her business, Ariana sold 2,000 cups of coffee for $2.50 percup and 4,000 hours of Internet time, also at $2.50 per hour. During the first year, the business made monetary outlays of$9,000. You may assume that there is no opportunity cost to Ariana’s time.

    Ariana's accounting profit for the year was

    answer choices a. $-394,000. b. $-6,000. c. $6,000. d. $12,000. 12. Multiple-choice 1 minute Q. Scenario-2

    Ariana withdrew $400,000 out of her personal savings account and used it to start her new Internet cafe. The savingsaccount pays 3 percent interest per year. During the first year of her business, Ariana sold 2,000 cups of coffee for $2.50 percup and 4,000 hours of Internet time, also at $2.50 per hour. During the first year, the business made monetary outlays of$9,000. You may assume that there is no opportunity cost to Ariana’s time.

    Ariana’s economic profit for the year was

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