Acompetitive firm produces output using three fixed factors and one variable factor. the firm's short run production function is q = 305x - 2x2; where x is the amount of variable factor used. the price of output is $2 per unit and the price of the variable factor is $10 per unit. in the short run, how many units of x should the firm use? (a) 37(b) 150(c) 21(d) 75(e) none of the above.

What does the consumer price index measure? a. the change in prices of all goods and services over time b. the change in prices of specific goods and services over time c. the change in prices of final goods and services over time

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr