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Suppose a firm’s total cost curve is TC = 1000 + 10q + 4q2 , such that MC = 10 + 8q.
(a) Find the firm’s fixed cost, variable cost, average total cost, and average variable cost.
(b) Find the output level that minimizes average total cost.
(c) Find the output level that minimizes average variable cost.
Suppose that a monopolist sells a product to consumers with an aggregate demand that is downward sloping in quantity, D(Q) = 200 - 2Q. The total cost of producing Q units is C(Q) = 20Q + 2Q2. What price-quantity pair would we expect? What is deadweig..
For each situation described here determine the type of unemployment: Steelworkers losing their jobs due to decreased demand for steel. A college graduate waiting to accept a job that allows her to utilize her level of education
q1. gary has two children kevin and dora. each one consumes yummiest and nothing else. gary loves both children
Think about the pricing methods--markup pricing, target-return pricing, perceived-value pricing, value pricing, going-rate pricing, and auction-type pricing. As a consumer, which do you prefer to deal with? Why? If the average price were to stay the ..
Which of the following is a list of nonrival private goods only? Economic theory suggests that college graduates receive higher wages than those with only a high school education because:
Using the product-service identified in Week 4 and the Situation Analysis prepared in Week 5, you will now prepare the Marketing Plan’s Marketing Strategy, At a minimum, the Marketing Strategy must include the following sections (complete), correctly..
In this discussion, you will explain the role of the business cycle in government and private sector decisions. Data on GDP and economic growth are considered lagging indicators because they report information on what is already known. How reliable a..
q1. a good example of an oligopoly market structure is the airline industry. there are not many airlines in the
If the demand for money depends positively on real income and depends inversely on the nominal interest rate, what will happen to the price level today, if the central bank announces (and people believe) that it will decrease the money growth rate in..
When cyclical unemployment increases and other things remain the same, ______. The U.S. labor force participation rate ______.Withdrawals move from employed to not in the labor force. people who voluntarily quit their jobs are colled job leavers.
Three arguments used to promote trade barriers are the national security argument, the infant-industry argument, and the dumping argument. Explain each of these arguments and evaluate whether each one has any flaws
she estimates that she can produce and sell an extra 1,400 hamburgers per day by keeping the restaurant open for three more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should sh..
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