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Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant has estimated its monthly cost functions as follows: TC = 2000 + 80 Q + 0.05 Q 2 MC = 80 + 0.1 Q The firm is faced with the following demand: Qd = 800 - 4 P a. Determine the profit maximizing level of the output for this firm. b. What price should the firm charge to maximize its profit? c. What is the firm's profit at the profit-maximizing output? d. What is its average variable cost at this level of output? e. What price should it charge if it were to maximize its revenue?
Commercial bakeries typically sell a variety of products (breads, rolls, muffins, cakes, etc.) to local grocery stores. There are substantial economies of scale in production of each one of the bakery products, which makes it cost-effective to specia..
GDP per capital (nominal) would be the actual cash of the average person in the given country has per year. It equals GDP divide by the population. What is the alternative to using PPPs for making international comparisons? This answer will likely ex..
If air quality improves however re are no effects on aggregate production or on market costs of final goods and services. Illustrate what would happen to GDP.
Suppose a new manufacturing technology results in an expansion in the supply of golf balls in the United States of 15%. If the elasticity of demand of golf balls sold in the U.S. is -0.4, the new equilibrium price will be
The base year is 2009. Real GDP in 2009 was $10 trillion (2009 dollars). The GDP price index in 2009 was 112, and real GDP in 2013 was $11 trillion (2009 dollars). Calculate nominal GDP in 2009 and in 2013 and the percentage increase in nominal GDP f..
From the scenario, identify the possible illegal or unethical activities activities in which the print shop boss plans to engage in, and identify the consequences on society from an economic point of view.
Outline the First and Second Welfare Theorems and their implications for the role of government. How can we use them to analyse the trade-off (if one exists) between efficiency and equity?
A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne.
Distinguish between the following views of monetary policy
Let's talk about the debt ceiling. What have you heard about it? What does it mean? What was all the fuss about a few years ago? What about the government shutdown?
In a fixed exchange rate system, how do countries address the problem of currency market pressures that threaten to lower or raise the value of their currency?
Please explain impact on economy of Government spending on Health care on interest rates, investments, employment and income in economy. Please follow sequence in question. Explain how interrelationships.
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