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A competitive firm has a cost function C=2q3-12q2+20q+100. The shutdown point (q,P) is? The optimal output price of 92 is? At price 92, the optimal profit is? At price 92, the optimal producer surplus is? The firm's supply curve is given by?
A political campaign manager must decide whether to emphasize television advertisements or letters to potential voters (mail outs) to potential voters in an election campaign. Describe the "production function" for campaign votes.
Firm A produces three products. Firm A uses labor costs as a cost driver for support costs. Direct labor is estimated at $20 per hour.
Gail has purchased a relatively unknown Stradivarius violin with a value of $2,000,000 which she plans to play every day (and therefore must keep at home). Gail is risk-averse. She is concerned about the potential loss of the violin through fire
Illustrate two policies could you use to reduce the total amount of emissions. Explain how would you decide what was the best level of emission reduction.
1. Suppose the French suddenly develop a strong taste for California wines. Draw a graph below to answer the following questions: a.) What happens to the demand for dollars in the foreign exchange market b.) What happens to the value of d..
Compute the elasticities of demand for and supply of broccoli at the market equilibrium, and interpret the meaning of these numbers.
Use an economic argument to explain why, in your example in part a, it might be profit maximising for the firm to use both mechanisms rather than just using one mechanism?
An accident has occurred in which chemicals leaked into the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the fact.
A sharp decrease in housing prices makes people much less wealthy. If the primary effect of this decreased wealth is felt on labor supply, what happens to the level of employment and the real wage rate if the labor supply function is positively relat..
Define JFK's doctrine and summarize the regional or global events during the Cold War leading up to the formation of JFK's doctrine describe the Cold War relationship that existed between Cuba and the U.S. before the JFK's doctrine was announced.
Explain what is meant by a recombining binomial tree. State the advantage and disadvantage of using a recombining tree [vis-à-vis a non-recombining tree] to model share price movements?
Identify and explain one government policy that could be used to reduce the rate of inflation in a country, if there was rising inflation.
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