Economics Help! Juicy Reward!

Discussion in 'Odds & Ends' started by TokyopunK, Sep 30, 2007.

  1. TokyopunK

    TokyopunK Professional

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    Hey guys it's your favorite Tennis Warehouse poster TokyopunK!!!

    I am in quite a tough fix here as I have to turn in my answer for a final Economy homework question tomorrow but after reviewing the material a bajillion times I still am not confident with my answer.

    Here is the problem.

    [​IMG]

    [​IMG]

    a) What is the lowest price at which firm A will produce?
    b) How many units of output will it produce at that price?
    c) What is the lowest price at which firm B will produce?
    d) How many units of output will it produce at that price?
    e) How many units will firm A produce if the market price is $20?
    f) How many units will firm B produce if the market price is $20?
    g) If each firm's total fixed costs are $20 and the price of output is $20, which firm would earn a higher net profit or incur a smaller loss?
    h) How much would that net profit or loss be?

    My answers were:
    a) 82
    b) 5
    c) 36
    d) 3
    e) 6
    f) 6
    g) ?
    h) ?

    If anyone is particularly strong in the field of Economics and could help me I would greatly appreciate it.

    I will also send $10 via Paypal for verification or alterations to my answers. Thanks!

    P.S. Please don't flame me because I am very sensitive and will cry.
     
    #1
  2. Phil

    Phil Hall of Fame

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    Why bother taking the course, or even going to college, if you aren't able or willing to do the work? I think you've been here before, trying to cheat over the Internet. With the offer of a whopping $10 to those who enable you to cheat, you should do quite well in economics.

    TW should really delete the posts of all lazy ass cheaters who use this site to cheat in their courses. This is not what this site is about. Which school do you currently attend, btw?
     
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  3. The_Dark_Knight

    The_Dark_Knight Banned

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    G. : Kill yourself
    H. :???
    I: Profit!
     
    #3
  4. TokyopunK

    TokyopunK Professional

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    I love you Phil.
     
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  5. Lakoste

    Lakoste Professional

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    Aren't you the same kid that was saying he was #1 in his class? Those questions are pretty simple, even for a high schooler. Why don't you show all the steps you took to get those answers, and I'll tell you if you're doing it right/wrong, but I won't just give you the answers.

    What college are you going to? Please don't tell me UofI accepted someone that couldn't solve those problems...
     
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  6. Phil

    Phil Hall of Fame

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    So where do you go to school? Harvard? MIT?
     
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  7. Breaker

    Breaker Legend

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    This is just more proof to my hypothesis that Fallout Boy rots the brain, if I have any trouble I'll be sure to contact TTW for help.
     
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  8. forzainter

    forzainter Semi-Pro

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    i thought this punk was a rapper
     
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  9. TheShaun

    TheShaun Hall of Fame

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    i haven't taken econ for a long time but....

    double check C & D
    not sure how you got E & F
    G & H seems as though the question may be incomplete but TC=TFC+TVC
     
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  10. TokyopunK

    TokyopunK Professional

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    Assist me and I will tell you.

    I spent over an hour trying to figure it out and I am pretty sure I am right but not 100%. My instructor is Turkish and you cannot understand anything he says!

    And Breaker.... This aint a scene, its the gosh darn TW forum!
     
    #10
  11. Phil

    Phil Hall of Fame

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    No, better that you turn in what you have-and try to get over your cheating habits. Don't blame the instructor's foreign accent for you being a little punk.
     
    #11
  12. Bottle Rocket

    Bottle Rocket Hall of Fame

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    If you plan on going to college and majoring in anything worthwhile, you better plan on spending a lot longer than that on questions even simpler than those poseted.

    Things like that are explained pretty claerly in the text, especially econ books. Basic economics is kept very basic.

    Sorry, I know that's not what you wanted to hear.
     
    #12
  13. dave333

    dave333 Hall of Fame

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    Does good math typically ==> good economy?

    I plan on either going to the finance or medical field.
     
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  14. zapvor

    zapvor Legend

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    man i remember doing this-econ200 right? i forget how to do it though lol but i think you can graph it out and then find out what units are produced at what price,etc. check the textbook this is one of teh basic questions you encounter.
     
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  15. TokyopunK

    TokyopunK Professional

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    Actually its only Econ 130.... I have checked the textbook believe me......... I can't find anything similar. Hopefully I can get some help before I leave for school in the morning!
     
    #15
  16. The_Dark_Knight

    The_Dark_Knight Banned

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    Is that a mister Noel Gallagher in your avatar?
     
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  17. zapvor

    zapvor Legend

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    well its probably the same class- intro micro right?

    did you try graphing? i think thats what i had to do. i forget what the total cost and variabel stuff relations are. but its something like even though varivable cost decline as units increase, it may not be worth it because of total revenue,etc. why dont you facebook a classmate and ask them
     
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  18. TokyopunK

    TokyopunK Professional

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    Yeah I think I am going to graph it.

    I facebooked like 4 guys and they had no clue.....
     
    #18
  19. D-man

    D-man Banned

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    #19
  20. zapvor

    zapvor Legend

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    now thats shame on you-thats what facebook is for! stalking until you find who you want/need! hook up with someone in class as study buddy. or sleep with the TA
     
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  21. Freedom

    Freedom Professional

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    Probably fail ethics though...
     
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  22. TokyopunK

    TokyopunK Professional

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    TA is some crazy asian lady who may be related to Phil.
     
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  23. Davai

    Davai Semi-Pro

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    Everything looks right. G: It seems like firm B would earn a higher profit because it's MC(P)- AVC is higher thus earning it a higher net profit.
    H: (20-9.33)*6-20 = 64.02-20=44.02
    Let me know if I'm right
    Purecontrol88@yahoo.com
     
    #23
  24. Phil

    Phil Hall of Fame

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    There's always an idiot willing to enable a cheater...I guess it's the ego factor...you actually knowing something.
     
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  25. SoBad

    SoBad Legend

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    He's working hard on his studies, and looking for some reassurance from his friends on here. Econ requires effort and thought, and sometimes questions arise over the weekend where collaborative input is beneficial. It's not like hist or lit where you just bs your way through.
     
    #25
  26. OrangeOne

    OrangeOne Legend

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    Yeah, disappointing. I only just came across the thread, and was scrolling through pleasantly surprised that no-one had been sucked in, only for someone to stumble at the very end :(
     
    Last edited: Oct 1, 2007
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  27. Phil

    Phil Hall of Fame

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    I'm trying to persuade the kid to do it on his own, though I realize that many people, including probably yourself, could only get through school though "collaborative input"? BS indeed!
     
    #27
  28. Duzza

    Duzza Legend

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    Hi, I do Economics, but not this kind of stuff. If I'm looking at your answers for A and B, it seems that I'm supposed to be looking at the Total Cost column.

    C is the same as A, and you answered 36 being the lowest. That's producing quantity of 3 ie. 1@12, but producing quantity 4=44, being 1@11. Doesn't that mean that 44 is the lowest?
     
    #28
  29. Davai

    Davai Semi-Pro

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    Would you apologize if I would prove you that I did the smart thing?
     
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  30. Phil

    Phil Hall of Fame

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    No, of course I wouldn't, but I'd still be interested to know why you feel that you did a smart thing by helping a kid cheat in his college course.
     
    #30
  31. Breaker

    Breaker Legend

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    Yes it is ;)
     
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  32. tennis_nerd22

    tennis_nerd22 Hall of Fame

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    phil man you're off the mark with those... you can come up with better more taunting insults than those :D sorry... i just had to lol. but i agree with what you're saying though
     
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  33. TokyopunK

    TokyopunK Professional

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    Phil is so angry all the time I wonder if he has ever said something nice on the forums.

    Maybe I should go to Japan, find Phil, and go to a sake bar so he can loosen up.
    Then when he is drunk I will make him do all my homework and then take his wallet hahahahhaha.
     
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  34. zapvor

    zapvor Legend

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    yea i have to agree. i mean its like a regular ole econ problem set-i dont see why Phil sees it as cheating. its not a test, not a quiz, or anything like that. its hoimework. in college homework is usually collborated. when i took econ my TA and Professor told us to find study buddies and collaborate on the problem sets if we run into trouble. BUt they are stricter over in Japan, so maybe thats influencing his mindset.
     
    #34
  35. Commando Tennis Shorts

    Commando Tennis Shorts Hall of Fame

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    wait, so what college do you go to?
     
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  36. tennis_nerd22

    tennis_nerd22 Hall of Fame

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    hahahahaha i laughed for about 3 minutes straight after reading that last line :D my stomach hurts haha
     
    #36
  37. TokyopunK

    TokyopunK Professional

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    U of IL in Chi-Town, home of the gangstas.
     
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  38. WildVolley

    WildVolley Legend

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    LOL! I'm an economist, but I won't work these problems for you.

    Remember, if you're in the short-run and have already incurred fixed costs, the firm will produce as long as total revenues exceed variable costs, even if that means they run at a loss(the excess over VC allows them to cover some of the FC). It is loss minimization that prevails in that case. In the long-run, they'll never run at a loss; they'll shut down and dump the FC.

    You need to know if fixed costs have been incurred to work this problem, or whether it is the long-run. Fixed costs will be the difference between Total Costs and Variable Costs.
    TC - VC = FC.
     
    #38
  39. caesar66

    caesar66 Professional

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    I could have helped you a few months ago when I was student teaching it, but I had to learn it as I taught it, and its out of my brain now
     
    #39
  40. TokyopunK

    TokyopunK Professional

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    Thanks for your help guys, but I turned in my answers today, so additional info won't be necessary.
     
    #40
  41. Phil

    Phil Hall of Fame

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    You shadow me like no one else on this board, always adding a cheerful word or two to what I say. Why don't you NOT do that anymore and get a life, nerdboy.

    Then I guess you don't read these formums much, do you. I'm nice to all who post here...other than cheating punks who call themselves "Tokyo" and yet, have never in their wildest dreams been to Tokyo! You're too young to go into a bar-even in Japan, so that fantasy will also go unfulfilled. Also, you wouldn't be able to find me...you'd need to enlist the aid of the entire Internet community to help you with the answer...
     
    #41
  42. PimpMyGame

    PimpMyGame Hall of Fame

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    Questions A to H all have the same answer: "I don't get out of bed for less than a grand".

    If you didn't write that unfortunately I think you're underselling yourself.

    lol
     
    #42
  43. forzainter

    forzainter Semi-Pro

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    i enjoyed reading that insult, nerdboy, simple insult from a simple man, one might say, just joking, now, vai a cagare sulle ortiche;)


    Aha, my second point, he could get into a bar (if hes over 16) in Italy,Antigua, Austria, Belgium, France, Germany, Greece, Netherlands, and Norway (last 4 with exceptions), Poland, Spain, Turkey and Switzerland (the last 3 with exceptions).

    Of course if he is under 16 he can enter bars in the following countries which have no age limit what so ever; Armenia, Azerbaijan, China, Fiji, Nigeria, Portugal, Soviet Georgia, Thailand and Vietnam. Theres some reserach for you.

    TokyoPunk, once you are 20, you can go to as many Japanese bars as you want.

    Also, Phil, if he wants to cheat, he may as well, he is only harming himself.
     
    Last edited: Oct 2, 2007
    #43
  44. tennis_nerd22

    tennis_nerd22 Hall of Fame

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    i dont shadow you buddy, if i did that i'd have way more posts than the 3100 and whatever it is i have now :D

    btw "nerdboy" is getting more on track, but still i think you can do better lol.

    edit: its 3101 haha
     
    #44
  45. Phil

    Phil Hall of Fame

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    Wow...you actually went and looked-up the legal drinking age in Japan. Good for you, smart boy.

    This post seems to only prove what a petty a-hole you are, not that I didn't know that already.

    You do shadow me...you pop up at the oddest times, when I haven't had a discussion with you pretty much EVER-unless you pop up. This is because you don't say anything worth my responding to...is that it? Do you WANT my attention...do you WANT me to notice you? I suppose if you ever said anything worth noticing, then I'd notice you. Otherwise, this pupply love interest of yours is lame. I'm straight, not to mention law-abiding, so I don't need the attentions of some teenage basement dweller.
     
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  46. forzainter

    forzainter Semi-Pro

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    Aha ha ha ha, you have to remember, good sir, that I am not the grown man arguing with 15 (soon to be 16) year old boys on a tennis forum, what has life come to that grown men feel the need for this, the clever route would be to ignore my petty insults and take the high road, that is correct, no?
     
    #46
  47. Phil

    Phil Hall of Fame

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    No, the clever route would have been for you to not butt into this thread, which has nothing to do with you. But being a petty little a-hole, that's not gonna stop you, now is it? This forum was initially used by ADULTS...but the Internet is free and once the children came on, it couldn't be helped...no one ever LOOKS to argue with a dumb little shiate, but it can't be helped if we're all on here together. Some adults have a low tolerance to idiocy, regardless of the age of the idiot.
     
    #47
  48. forzainter

    forzainter Semi-Pro

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    merda! Non sparare cazzate Phil, Mi fai schifo. Ill let you know that I (believe it or not) respect my elders, unlike many kids now-a-days, but alas, I will only respect the ones that deserve respect, and since you seem to spend half your day or something arguing with the tw minions and just making yourself seem like 'un pompinaio', mind thats probably because you actually are 'un pompinaio', so if you want respect and people to stop acting like me towards you, why dont you just calm it with the arguing on forums, its not impressive and you tell me not to butt in, what about my rugby thread, hmmmm? I could've said the same thing to you but you would just say its a free country or something, do onto others what you expect done to you. Sticchiu.
     
    #48
  49. Phil

    Phil Hall of Fame

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    This is an Internet chat board...I don't care who you do or do not respect, and you telling me you respect your elders doesn't make it so. But I will certainly point out your idiocy when I see fit, like now. Rugby? Well, I commented on the SPORT, not YOU, right? If you get offended by someone making a smart ass comment on a sport-an OPINION-than you're even dumber than you look.

    PS - Speaking in a foreign language to someone who probably doesn't speak that language probably will not impress your listeners-as you want it to. The effect it gives of is that of a pretentious, insecure little jerkoff. That's a habit you need to drop earlier rather than later-believe me, you don't want to be a pretentious, insecure little jerkoff.
     
    Last edited: Oct 3, 2007
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  50. forzainter

    forzainter Semi-Pro

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    actually, maybe the "jerkoff" is someone who is too lazy/stupid (you choose) to learn said language in question, you might not even know what language it is, so i personally would say, you are the jerkoff, maybe we should get a vote going, "who is the bigger a-hole" forzainter or phil, id be interested in seeing the results
     
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