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Hospital A does emergency care only, and has total costs of $1,000,000 for output of 100 patients per day. Hospital B does surgery only and has total costs of $10,000,000 for 100 surgeries per day. Hospital C does both emergency care (100 patients per day) and surgeries (100 per day) with total costs of $10,500,000. We can say that
Hiro Nakamura is CEO of the Cola King Bottling Company, a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
A firm is using 10 workers, and their average product is 200 units. Suppose the marginal product of labor is 250 units. In answering the questions below, explain your answers briefly. How much output is the firm producing? Is the marginal cost curve ..
When I look at a cost function such as TC=9000 + 9Q, Am I correct that the 9000 in this figure is overhead and the 9 would be the marginal cost, Q would be the qty produced?
Illustrate the effect of each of these proposed policies in a demand and supply diagram of the gun market. For each question, show the price paid by consumers, th eprice received by producers an dthe quantity of guns sold.
Illustrate what conditions would minimize the extent of manufacturing job loss associated with this price increase.
Suppose the government implements a policy that subsidizes business investment. Explain how will this affect the relationship between investment and the interest rate.
Assume that the economy's real GDP is growing. what will happen to money demand over time? If the Fed leaves the money supply unchanged, what will happen to the interest rate over tiem? If the Fed changes the money supply to match the change in money..
Explain how Steve Jobs revolutionized 6 industries (personal computers, animated movies, music, phones, computing, digital publishing. Describe his marketing strategy.
Your firm’s research department has estimated your total revenues to be R(Q) = 600Q – 4Q2 and your total costs to be 60 + 2Q2. (Note that MB = 600 - 8Q and MC = 4Q). What level of Q maximized net benefits? What is marginal benefit at this level of Q?
A firm that produces and distributes electricity has mostly fixed costs. It also tends to be the only provider of electricity in its market. This is an example of pure monopoly resulting from the firm:
In the Elwyn Company, the relationship between output ( Q) and the number of hours of skilled labor ( S) and unskilled labor ( U) is. Elwyn's chief engineer recommends that the firm hire 400 hours of skilled labor and 100 hours of unskilled labor. Ev..
Which of the following is NOT a consequence of imposing a legal minimum wage?
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