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Your coffee mug company is currently producing at an output level of 200 units per month. Fixed costs are $500 per month. At the current output level, you know that marginal cost is $10 and equal to average total cost. At an output level of 150, you have determined that marginal cost would be $6 and equal to average variable cost. The market price of coffee mugs is $8. If your goal is profit maximizing, should you continue at , increase q above 200, or reduce q below 200? Would you do better to shut down?
The change in benefits that arises from a one-unit change in quantity is the: marginal net benefits. Marginal benefits, Total net benefits, variable benefits.
A country has 2 established car manufactures, both of which have an exclusive network. Dealers have to sign a contract that explicitly forbids selling cars of any other make. An upstart new manufactures sues them for damages with the claim that these..
Each of 50 golf clubs in the Niagara Region has a demand for generic advertising of Q = 200 - P. Ads cost $3000 each. How many ads will the clubs want to purchase as a group?
An increase in consumer incomes will lead to a rightward shift of the demand curve for plasma TVs and the price of automobiles were to increase substantially, the demand curve for gasoline would most likely
Suppose the demand for oranges in the U.S. is: P = 5.35 - .012 Q. Where Q is the quantity demanded for oranges in the U.S. (measured in millions of boxes per year) and P is the price per box. Suppose the current price of oranges is $3 per box. A deep..
Suppose the EEOC uses a job-scoring system and determines that the wage rate for a secretary is $50 per hour, while the competitive labor market wage rate is $10 per hour. What would be the effect of such a comparable worth law
The article must be representative of the economic issues represented by the topics or focus. The article review must include a brief summary of the facts in the article using economic terms.
Through the great recession of 2008 in the US, the study indicates that the demand for unskilled and semi-unskilled workers to hire has declined, however the wage structure paid to the workers hired at all levels did not change significantly through ..
A market has the following characteristics: there are many firms, few barriers to entry, each firm acts independently with differentiated products, and no possible long-run economic profit. The difference between a perfectly competitive firm and a ..
Who gains and who loses from instituting the pollution tax?
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
1. the following table shows the number of calculators that can be assembled per week by various numbers of
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