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Suppose that the firm's initial demand curve had been P = $5,000 - 50Q and that it shifted inward to P = $4,000 - 50Q. Assume MC = $500. How would this shift in demand affect the firm's profits?
Discuss the direction of change in price, quantity, and average total cost that you expect. Then check your answer by calculating price, quantity, and profit. You can refer back to graphical problems you solved in this news analysis to observe the change in average total cost.
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers. Effecively, this wou..
Assume that the competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Suppose that the market price of the firm's product is $9. Find out level of output will the firm produce?
Draw the impact of this illness on the equilibrium de?ned in exercise 5. How will it change his equilibrium allocation of earnings and labor-leisure?
The manager of EverClean finds two output levels that appear to be optimal. Show what these levels of output are, and explain which one is actually optimal.
You have been hired as a consultant by your mayor to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
Pick a good or service. Distinguish between the short-run and the long-run production and cost function for that good or service. Discuss how price plays a role in short-run and long-run decisions and how managers are likely to respond in each cas..
Prepare an essay on Minimum wages are likely to harm those they are designed to help.
For many years, your company has been protected through patents, Technological change and introduction of new products have been slow.
Separate the bond market into municipal bonds and corporate bonds, if the President lowers the federal income tax rate by 5% and holding everything else constant.
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