If the market for surfboards was perfectly competitive and the market price was $150, how many surfboards should Cory make and how much profit will be make on each surfboard? Draw the firms demand on your graph in part “a” and explain how you got your answer.
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With regards to Cory's Surfbaord Inc, the table showing the costs of production and perfect competition is attached accordingly.
a) Note that the Graph showing the Average Fixed Cost (AFC), the Average Variable Cost (AVC), and the Average Total Cost (ATC) is also attached accordingly.
b) If the price of Styrofoam rises, so will the variable cost, total cost, average variable cost, average total cost, and marginal cost. If Cory's rent rises, so will the fixed cost, total cost, average fixed cost, and average total cost. The results differ because Cory's rent is a fixed cost and therefore a constant that has no effect on the average variable cost or the marginal cost, but the price of Styrofoam is a variable cost that, although not affecting the average fixed cost, is a scalar that has an effect on the marginal cost.
c) Cory should build seven surfboards, with a profit of $65.7 for each surfboard. His profit is 150 - 84.3 = 65.7 since the market price is $150 and the overall total profit is $84.3.
What is perfect competition?
A perfect market, sometimes known as an atomistic market, is described in economics by numerous idealizing requirements, together known as perfect competition, or atomistic competition.
A marketing situation in which there are many vendors of a product that cannot be distinguished and, as a result, no single business has a substantial effect on pricing. Other prevalent variables are the ease with which new enterprises can enter the market and excellent market knowledge.
Note that the table showing the formulas is also attached.
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Full Question:
Below is information regarding Cory’s Surfboard Inc. Complete the table and do the following:
a. On a large graph, plot the AFC, AVC, and ATC curves from this data.
b. EXPLAIN what would happen to each of Cory’s per unit cost curves if the price of Styrofoam blanks (a variable input) increases. How would the cost curves change if there were an increase in his rent (a fixed input)? Explain why the results are different.
c. If the market for surfboards was perfectly competitive and the market price was $150, how many surfboards should Cory make and how much profit will he make for EACH surfboard?
Related Questions
Why is globalization occurring?
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Answer: Globalization is the process by which countries, businesses, and people are becoming increasingly interconnected and interdependent. There are several reasons why globalization is occurring:
Advances in technology: Advances in transportation, communication, and information technology have made it easier and faster for people, goods, and ideas to move around the world. This has led to an increase in international trade and investment, as well as the spread of information and culture.
Economic factors: Globalization has been driven by the desire to access new markets, resources, and cheaper labor. Countries have opened their economies to foreign investment and trade in order to boost economic growth and create jobs.
Political factors: Governments have also played a role in promoting globalization through agreements such as the World Trade Organization (WTO), which aims to reduce barriers to trade and investment.
Demographic factors: The growth of global population and urbanization has also driven globalization. As the population grows, the demand for goods and services increases. Urbanization also leads to greater economic interdependence as urban centers become more diverse and interconnected.
Cultural factors: The spread of the internet and social media has led to the spread of cultural influences, allowing people to learn about different cultures and to create a more globalized society.
In summary, globalization is driven by a combination of economic, technological, political and cultural factors that have allowed countries, businesses, and people to become more interconnected and interdependent.
Which of the following terms refers to questioning meant to obtain superficial information, such as name and place of address?
A) interviewing
B) inquisition
C) interrogation
D) accusation
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When someone is interviewing, they are being questioned to find out general information like their name and address.
The correct statement is A.
By interviewing, what do you mean?Typically, the interviewee provides information in response to the questions asked of them. That information may be used or received by other audiences now or in the future.
What are interviews primarily used for?During the interview, a potential employer and you talk to share information. While the employer wants to know the following information, your objective is to be extended a job offer.
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List and explain the four common characteristics that certain species have that may make them more vulnerable to extinction than other species. Give examples of each.
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Extinct species are those that have entirely vanished from their natural habitat. Dodo, Dinosaurs, Mammoths are main examples of these.
When environmental conditions are not adequate to adopt or owing to some evolutionary changes creatures are extinct.
Low population size- When the population of an organism is exceedingly small, small changes in the environment can wipe out all populations. The Dodo is an example of a species that was extremely rare and became extinct as a result of human hunting.
Limited geographical distribution- when a species' range is limited, it is more vulnerable to extinction. Baikal seals are one example.
Larger body size- When the body is huge, the reproduction capacity is reduced. An example is an elephant seal.
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sociologist erving goffman used the term to refer to the ways in which an individual shows an awareness that another is present without making this person the object of particular attention. group of answer choices passive rudeness civil inattention reserved rejection selective attention
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The term was "civil inattention." The word was coined by sociologist Erving Goffman to describe the manner in which one individual is aware that another is there without making this person the focus of special attention.
1. First, it is important to understand what Erving Goffman meant when he used the term “civil inattention.” This term refers to the ways in which an individual can be aware of another’s presence without making them the focus of their attention. This is done through subtle behaviors such as avoiding eye contact, keeping a certain distance, and not engaging in conversation.
2. Passive rudeness is a behavior that is similar to civil inattention in that it involves being aware of another’s presence but not engaging with them. However, passive rudeness involves more deliberate actions such as ignoring the person, not responding to their attempts at conversation, and acting as if they are not present.
3. Reserved rejection is another behavior that is similar to civil inattention in that it involves being aware of another’s presence but not engaging with them. However, reserved rejection involves more intentional behaviors such as avoiding the person, speaking in a cold and distant tone, and acting in a hostile manner.
4. Selective attention is a behavior that is similar to civil inattention in that it involves being aware of another’s presence without making them the focus of attention.
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where in the beginning of the outsiders does it show that finding self identy is important to paving ones path
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Self-identification against group identity is the fundamental theme of The Outsiders. The term itself provides evidence for this issue, since the Outsiders create their own group (the Greasers) because they feel excluded from society.
Ponyboy's readiness to form friendships with Socs denotes the emergence of a unique personal identity, one that includes association with the greasers but does not include complete adherence to the greaser way of life.
The first major event in The Outsiders is when Ponyboy is jumped and attacked. Ponyboy is jumped but is saved by the gang in the first major event. Ponyboy is jumped but is saved by the gang in the first major event. The eleventh major event is Dally's arrival bearing a note from Sodapop, following which they decide to go out and dine.
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if joey takes welding classes at a community college but doesn't get a degree, which one is correct?
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The majority of community college systems feature a welding program. Additionally, a few state trade schools and several specialized commercial trade schools exist.
What does "community" mean to you?a group of people who live together in a broader society and have a shared trait or interest. a neighborhood of senior citizens. A group of people with similar interests, particularly professional ones, dispersed among a broader society is referred to as a monastic community.
What in life does community mean?A community may be described as a collection of individuals who share a similar location or trait. People who live in the same area, work at the same firm, or attend the same school together are what we often consider to be members of a community.
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Do you think the lower class of Brazil lives worse, the same or better then the US lower class? Explain why.
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It is difficult to say definitively whether the lower class of Brazil lives worse, the same, or better than the US lower class, as there are a number of variables to consider. For instance, the US lower class may have access to more public services, such as healthcare and education, while the Brazilian lower class may have access to more social safety nets, such as government welfare programs. Additionally, the US lower class may have a greater opportunity to earn a higher income, while the Brazilian lower class may have greater access to resources such as food and housing. Ultimately, the quality of life of the lower class of Brazil relative to the US lower class is highly dependent on the particular circumstances of each country.
match the terms to their definition. 1 . appropriate, suitable, fitting relevant 2 . trustworthy, information you can trust with certainty reliable
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Definitions: Appropriate means acceptable or appropriate for a specific use, person, circumstance, etc. appropriate attire; an appropriate example. characteristic of or peculiar to a person.
What is a relevant Definition for the given words?Appropriate or relevant: Each participant did what was necessary. Associated with what is occurring or being talked about: Education needs to be pertinent to the needs of the child. Please consult the corresponding pamphlet for more details.
Suitable or fitting: "Young children will find the playground to be extremely suitable." "Her attire is not really appropriate for the workplace." "The movie is appropriate for small children," when used with verbs. Someone who is qualified for a task or role possesses the necessary traits. Reliable information is that you can depend on it completely.
A trustworthy individual is dependable, accountable, and entirely dependable. He is a capable and sensible leader. dependable, accountable, moral, and mature More words that mean trustworthy.
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quality refers to what service was delivered, while_______ quality refers to how the service was delivered.
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How a service is provided to the client is referred to as service quality. The term "service quality" describes how effectively a business meets the expectations of its customers.
What is a service of quality?Quality of Service (QoS) is a group of technologies that operate on a network to ensure that high-priority traffic and applications may be reliably carried even when the network's capacity is constrained. This is achieved by QoS technology by giving specific network traffic flows distinct handling and capacity allocation.
In terms of client satisfaction, what is quality service?A comparison of customer expectations and service performance is how service quality is defined. Customer happiness is a direct result of high service quality, which increases the firms' ability to compete in the market.
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Which of the following is the correct order of the stages of the GTD method discussed in your chapter?apture, organize, process, do, complete do, process, capture, organize, complete process, organize, capture, do, complete capture, process, organize, complete, do
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Capture, Process, Organize, Complete, Do is the correct order of the stages of the GTD method.
The well-known task management method Getting Things Done, or GTD for short, was developed by productivity expert David Allen. The concept is founded on a straightforward truth: It gets harder to prioritise what needs attention the more information you have running around in your thoughts. As a result, you take longer to complete your activities than to ponder about them. The accumulation of knowledge in your head causes stress, overwhelm, and doubt. Even while setting up GTD takes some initial time and effort, it pays off with regular use. You won't have to stress about missing a deadline or a crucial task. Instead, you'll be able to firmly prioritise your time and react to incoming information in a calm manner.
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something important to remember about christianity is that it orignally was meant for jews. another important thing to remember is that there are a lot of jews in europe that history forgot.
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We'll discover that these clergy regularly referred to Jews in terms of race as well as doctrine. However, traditional Christians were regularly the targets of Nazi abuse.
What does the word "traditional" signify in its alternative sense?
Classic, Common, Conventional, Historic, Ancient, Popular, Regular, Time-Honored, Acceptable, Recognized, Ancestral, Customary, Doctrinal, Fixed, Folk, Habitual, Eternal
A tradition, style, or custom is something that has existed for a very long time. As an example of tradition, consider the practice of serving turkey as the required or permitted Thanksgiving entrée. The term "conventional" refers to a formal furniture style that does not change with the times or the seasons.
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identify the media type of each of the following information sources. secondary literatureprimary literaturesocial media
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The main type of
Secondary literature are-Biographies (not an autobiography) Textbooks.Primary Literature- Dissertation and Technical reports.Social media- Image and video sharing sites and Video hosting sites.Textbooks, edited works, books and articles that interpret or review research works, histories, biographies, literary criticism and interpretation, reviews of law and legislation, and political analyses and commentaries are all examples of this type of literature.Even when discussing literature, the concept of meaning is frequently regarded as a monolithic idea. However, literary meaning varies widely, making it impossible to draw broad conclusions about its general characteristics. There are several distinct phenomena that make up what is commonly referred to as meaning in literature.Along with encouraging students to make connections between global and local issues, literature also helps students to develop their critical and creative thinking skills. It requires collaboration and effective communication when negotiating with others.To know more about Literature here
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According to sociologist Charles Horton Cooley, the __________ refers to the way in which a person's sense of self is derived from the perceptions of others.a. significant otherb. subconsciousc. process of role-takingd. looking-glass self
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The looking-glass self, as defined by sociologist Charles Horton Cooley, is the process through which an individual derives their sense of self from the impressions of others.
Charles Horton Cooley, a sociologist, created the idea of the "looking-glass self" from the standpoint of symbolic interactionism. He wanted to illustrate how people construct their sense of self based on how they believe others perceive them with this idea. This process, according to the author, is facilitated by social interactions that serve as a "mirror". By their values, deeds, and ultimately worth, people judge themselves in this mirror.
This idea contends, along with symbolic interactionism, that social interaction and situations are where a person will primarily develop their sense of self or self-concept.
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The abuse and murder of the Levite's concubine in Gibeah was an example of the ... characterized Israel increasingly during the period of the judges.
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The Levite of Judges 19–21 has received surprisingly little attention, maybe because he is unidentified and not mentioned in the popular Bible encyclopedias. To shed light on how the Levite is depicted in the story, this study analyzes Judg 19–21.
What is an example of encyclopedia?
Encyclopedias have been around for more than 2,000 years, summarizing current scholarship in ways that their readers could understand. The term "encyclopaedia" is derived from the Greek phrase "universal education," enkyklios paideia, and originally denoted a system of learning that was comprehensive or circular, or an all-encompassing education. In Pantagruel (chapter 20), François Rabelais used the phrase for the first time in French.
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master sergeant newton collided with another service member during a football game. master sergeant newton was diagnosed with a concussion. which of the following activities should he avoi
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Stop participating in your sport as soon as your head hurts. You should be removed from the field by a coach. Take yourself out of the game if you don't have a coach or if your coach doesn't remove you from the game.
What defines sport?
In its description, it most definitely calls itself a sport. It requires mental effort, and controlling the controller undoubtedly calls for quick reflexes and dexterity. It is competitive, and it entertains millions of people. The gamers contend that they are just as much athletes as race car drivers because both involve the use of manual dexterity and talent.
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jim has a better idea of the types of gender diversity policies he would like to implement at hentoncast; however, as hr manager he can only do so much. which of the following groups should jim convince first that these policies are needed?
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Jim should start by persuading Winston and the remaining managers that such policies are necessary.
What does a gender equality policy at work entail?The practices and ideas of equity and diversity that are used throughout the employment lifecycle to promote and enhance gender equality results in the workplace are stated in a written policy on gender equality.
What rules apply to gender equality?Rules of thumb Specific steps to reduce gender disparities will be needed to achieve gender equality. Gender equality refers to the equitable and just division of rights, authority, wealth, and duties between men and women.
Why is a policy on gender equality important?An essential building block for a world that is tranquil, prosperous, and sustainable is gender equality. Evidence suggests that empowering women and men.
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if your community does not offer a designated driver program and no one will be your designated driver, you could: call a cab, another friend, or stay where you are until you sober up. call a cab stay where you are until you sober up call a sober friend to pick you up all of the answers
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If nobody is going to be your designated driver because there is no designated driver program in your city, you have a few options, including calling a cab, calling a buddy, or staying put until you sober up.
What does being sober entail and why?Being sober involves avoiding addictive substances like alcohol, narcotics, and tobacco. Additionally, it indicates that you are not impaired by alcohol or other drugs in the short term.
Why else do people sober?You can affect other facets of your life, particularly your general physical health, by becoming and remaining sober. Even though becoming sober does not guarantee health, it can enable you to make better food choices, sleep better, and engage in more physical activity.
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FILL IN THE BLANK. you should use the ____ parking maneuver when the parking space hugs the edge of the curb.
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When the parking place touches the curb's edge, parallel parking is the best option. the act of parallel parking a car near to the edge of a road.
A method of parking that is parallel to the road, in line with other parked cars, and facing the same direction as the flow of traffic on that side of the road is called parallel parking. You accomplish this by approaching the parking place parallel to the car in front of it and then carefully backing up into it. A vehicle is parked parallel to the road, in line with other parked cars, using the parallel parking technique. Driving parallel parking often involves keeping a safe distance from the car in front of the spot while driving slightly past it, parallel to it, and then reversing into it.
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if applicable, please provide a brief description of your ethnicity and ancestry and how this has influenced your personal development, academic development, and/or professional goals.
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Although visual characteristics may be a part of ethnic identity, this concept is far broader and encompasses customs, a common language, symbols, legacy, and, in some situations, nationality and geographic history.
Why is ethnicity significant in human development?Ethnicity is frequently determined by cultural aspects of one's heritage, such as ancestry, geographic origin, language, and beliefs (Perez & Hirschman, 2009). In the past, these notions have been used to define and assign one's personal and communal identity as well as their social standing.
How would you characterize your ethnicity and race?Race is the idea of classifying people into groups according to diverse sets of physical features and the process of giving those groups social significance.
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. new research shows that tregs are very flexible in responding to their surroundings and help maintain immunological balance by activating distinct pathways in different tissues
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A particular subgroup of T cells called regulatory T cells works to control immunological response, preserving homeostasis and self tolerance.
What is an example of tolerance?patience, suffering, and fortitude; as well as kindness, objectivity, and unbiased thinking. Tolerance and toleration both support a person's right to do something they disagree with. Tolerance implies a liberal attitude regarding other people's opinions and behavior.
Risk tolerance: What is it?Asset allocation is the degree of market turbulence and loss you, as an investor, are willing to accept. The most primary step you can undertake in choosing what investment types to make is figuring out your own risk tolerance.
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In one or two sentences, explain at least two different components of the Articles of Confederation.-Under the Articles of Confederation, state representative bodies elected officials to serve in the national Congress, which was a unicameral (one house) legislature with only one vote per state regardless of the number of representatives sent from that state.-There was no independent executive or national judicial branch. Any dispute between the new states could be decided in either party's independent court system or both, creating a formula for confusion and chaos.-Major legislation required a supermajority of nine out of thirteen votes to pass through Congress, and should the government find it necessary to amend the Articles, all thirteen states needed to agree before it could be ratified.-Congress had no authority to ratify treaties negotiated with foreign governments, meaning that the Treaty of Paris (1783) went to the individual states for ratification - any one of which could have refused to do so.
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Under the articles of confederation, Delegates granted the Continental Congress the authority to declare war, regulate the military forces, approve appropriations, and solicit funding from the states.
Under the Articles of Confederation, state representative bodies chose the National Congress, a unicameral (one chamber) legislature with just one vote per state regardless of the number of members sent from that state. There was no independent or national judicial branch. Any dispute between the new states would be adjudicated in either party's separate legal system or in both, which would cause confusion and instability. Before it could be ratified, all thirteen states would need to concur if the administration decided it was necessary to amend the Articles. To get through Congress, major legislation needed a supermajority of nine out of thirteen votes. The Treaty of Paris (1783), which was sent to the states for approval with the option for each to reject it, was delivered to the states because Congress lacked the authority to approve treaties signed with foreign governments.
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sociologists use the term to refer to the disorientation that people feel when they encounter cultures radically different from their own and believe they cannot depend on their own taken-for-granted assumptions about life. group of answer choices social disorganization dysfunction group anomie culture shock
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Ethnocentrism can be so strong that when confronted with all of the differences of a new culture, one may experience disorientation and frustration. In sociology, we call this culture shock.
Diffusion, also known as cultural diffusion, is a social process through which elements of culture spread from one society or social group to another, which means it is, in essence, a process of social change. Acculturation, the processes of change in artifacts, customs, and beliefs that result from the contact of two or more cultures. The term is also used to refer to the results of such changes.
Cultural appropriation is a term for when members of one culture adopt attributes of another culture. These elements can include music, attire, food, art, or other iconography. Relocation Diffusion occurs when people move from their original location to another and bring their innovations with them. Immigration from country to country, city to city, etc. As they relocate to a new location, they bring their ideas, and cultural traditions such as food, music, and more.
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which of the following sampling strategies is especially useful when the cases in each group are very similar to one another but potentially very different from cases in other groups? (choose only one)
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Random sampling entails selecting a the enough number of participants at irregular intervals from a citizenry to ensure that the results are representative of the entire population.
What exactly is random sampling?Irregular sampling is a sampling method where each test has an equal chance of being selected. A random sample is intended to be an impartial representation of the entire population.
What are the four different types of random selection?Simple random sampling, results of this type, stratified random, and cluster sampling are the four primary random (probability) sampling methods.
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revenue recognition was previously based on the principle, which required that two criteria be satisfied before revenue can be recognized: the earnings process is complete or virtually complete and there is reasonable certainty as to collectibility.
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Realization or acknowledgment Prior to this time, revenue recognition was based on the concept, which demanded that two conditions be met before revenue could be recognized.
What are the two requirements for revenue recognition?In this case, revenue is recognized when all four of the standard revenue recognition requirements are satisfied: (1) that the price can be set; (2) that collection is probable; (3) that there is convincing evidence of an arrangement; and (4) that delivery has taken place.
What are the steps of the criterion for revenue recognition?Determine distinct performance responsibilities. Establish the transactional cost. Give performance commitments a portion of the transaction price. When each performance obligation is met, revenue should be recognized.
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a plan that outlines how a developer will adress concerns raised by a project's impact on the environment
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Environmental mitigation strategy: This plan describes that how developer will allay any issues brought up by the project's environmental impact.
What of the following best defines and describes the tools required to gauge how much water has permeated the soil?What of the following best distinguishes and describes the tools required to ascertain how much water has permeated the soil? After pouring water over the pebbles in both pallets and after an hour, assess the water levels over the pebbles in both pallets using a ruler.
Which of following benefits of more urban sprawl would you consider?Among the following benefits of more urban sprawl would you consider The density of cities will drop as people relocate to adjacent suburbs, which will slow the spread of diseases.
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Upon further inspection she realized its never going to matter what its name is.
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From the sentence, the revision that best correct the error is "upon further inspection, she realized it's never going to matter what its name is". (Option B).
What is Revision of Sentences?Revision of sentences refers to the process of editing and improving the grammar, structure, and style of a sentence or group of sentences. This can involve correcting errors, clarifying meaning, and making the sentences more effective in conveying their intended message. It is a key step in the writing process, and can help to improve the overall quality and clarity of a piece of text.
In conclusion, in the given sentence, to revision the sentence, the first "its" is corrected to "it's" while the second "its" is left as it is.
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g we know that personal checks are accepted as money because they are backed by government issued money. but, what back government issued money
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The fact that you can redeem the dollars for gold bullion that is stored in Fort Knox, Kentucky is the reason for back government issued money.
Option A is correct.
What does it imply that the government backs money?Instead of a tangible product or financial instrument, a nation's government provides support for its fiat currency. As a result, fiat currency is used for the majority of world's coins and paper money.
When money is backed, what does it mean?A currency that is supported by a commodity, such as gold or silver, is referred to as a backed currency. The commodity's value is directly proportional to that currency's value. There is still a correlation in value despite the fact that that currency cannot be exchanged for that commodity upon demand.
Question incomplete:We know that personal checks are accepted as money because they are backed by government issued money. But, what back government issued money?
Group of answer choices
A) The fact that you can redeem the dollars for gold bullion that is stored in Fort Knox, Kentucky.
B) The confidence that someone will accept the money in exchange for goods and services
C) the willingness of banks and the government to surrender something of value in exchange for money
D) the confidence of the public in the ability of government to pay off the national debt
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Please identify the level of measurement (nominal, ordinal, or interval-ratio) for the following variable:
Place of residence, classified as urban, suburban, or rural
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Nominal: The information is only classifiable. Ordinal: The information is classifiable and rankable. Data can be categorized, ranked, and spaced according to an interval.
What are some ordinal examples?
Ordinal data groups information while establishing a hierarchy or rating. Consider categorizing people's economic condition as "rich," "middle income," or "poor." Between these groups, there isn't a definite gap, though.
Is an ordinal or nominal street address used?
Ordinal numerals are frequently used in speech and are typically utilised when writing street names. We never say things like "I reside on 72 Street" or "The store was once located on 9 Avenue," for example. We use "Seventy-Second Street" and "Ninth Avenue" in speech.
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the development of the railroads as described in the excerpt had which of the following effects on westward expansion in the late 1800s? apush unit 6
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Factors affected westward migration in the late 1800s as a result of railroad construction as indicated in the excerpt? Along train lines, new commercial hubs and communities arose.
What types of communities are examples?This community is a neighborhood where you might meet new individuals or run across familiar faces. As in a city with a recreational street that promotes social interaction and recreation.
What would be a decent way to define community?A standard definition of community arose as a collection of individuals with various traits who are connected by social ties, have similar viewpoints, and take part in cooperative activities in certain contexts or environments.
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list a disadvantage each sociological perspective has and explain why its typically best to look at an issue through all four lenses rather than just one
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Sociological propaganda, sociology dealing with generalisations and not laws are some of the disadvantages of sociological perspective.
A perspective and a worldview are provided by sociology. The sociological viewpoint offers a new perspective on well-known worlds while providing a doorway into unexpected ones. Sociologists research the more extensive social circumstances that support human conduct. These include the greater society that governs human conduct as well as the social groups that have an impact on it. An method to comprehending human behaviour that places it within a larger societal framework is known as the sociological perspective. The sociological perspective, according to C. Wright Mills, is at the confluence of biography and history.
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