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A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items. He also finds that the break-even point is 50 items. a. Find the revenue function. b. Find the cost function. Explain step by step
A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne.
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job affords you the highest purchasing power of the bundle of goods in the price index.
The risk premium it charges on its loans is classified as profits in economics.
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
If Plonk and Brew operated in a Cournot oligopoly, explain how much output will each of them produce in equilibrium.
Compute the equilibrium quantity and price and Calculate the consumer and producer surplus.
Can you find a Nash equilibrium in pure strategies that is not efficient. In some legislatures, proposals for modifications of the law are formulated by committees.
Suppose that Ellen has $I to spend on goods x and y: The price of good x is px and the price of good y is p y: Write down Ellen's budget line and draw it. Indicate the slope, as well as the vertical and the horizontal intercept.
For each of the following events, describe the effects on the Canadian economy assuming that it is originally in long run equilibrium. For each, explain the short and long run effects in the context of an aggregate supply and aggregate demand diagram..
What is the price of a perpetuity that has a coupon of $50 per year and a YTM of 2.5% ? If the YTM doubles, what would happen to its price? Assume you just deposited $1,000 into bank account. The current real IR is 2%, and inflation is expected to be..
Discuss the issue of health care in the context of the following microeconomic concepts: ?Marginal analysis ?Trade-offs ?Opportunity costs ?Normative versus positive economics
pricing strategy varies significantly across different market structures. the pricing guidelines in a monopoly market
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