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Firm i produces its product in a perfectly competitive market. In the figure below, the Average Total Cost and Marginal Cost of producing that product are given by the ATC and MC curves, respectively. The price is determined in the market. Like other firms who compete in this market, firm i is a price-taker. The market price is given by the horizontal line.
1. Find the profit maximizing quantity, and call it X*.
2. Explain how you determined X*.
3. Draw the profit/loss box.
4. Keeping market demand constant, would firm i enjoy greater profit or suffer from greater loss in the long run? Explain why.
Why might a money lender who relies on threat of cutting off future credit to enforce repayment of current loans be less willing to make a loan to an individual that plans to invest money productively.
Discuss some of the methodological and measurement problems one might encounter in using time-series data to estimate the parameters of this model.
What are the economic arguments in favor of such licensing and regulation? What are the arguments against? If such licensing does occur, what is likely to happen to the number of estheticians that practice, the prices they charge and their average in..
The AFN equation produces more accurate forecasts than the forecasted financial statement method, especially if fixed assets are lumpy, economies of scale exist, or if excess capacity exists.
If the mutual fund will average 9% annual return over the course of your career, explain how much can you expect at retirement.
Describe the rationale behind arriving at figures for the natural rate of unemployment, stable prices, and sustainable economic growth.
Consider the following Demand equation that represents Demand for goods to your company produces q=100-2p. Total cost of production is cq. Given to your company's objective is to maximize profit
what is the value of the money multiplier given each of the following sets of values for CUR and RES? what would be the equilibrium value of total money stock assuming a monetary base of $10 trillion?
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case?
For an annual market interest rate of %9, calculate the economic life of the machine. Show the results of your calculations on a graph.
q1. when the price of ketchup rises by 15 the demand for hotdog falls by 1 calculate the cross -price elasticity of
Based on your knowledge of aggregate demand and aggregate supply, suggest the reasons and causes for the downward tailspin of the economy. Provide support for your response.
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