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Suppose you run a manufacturing business that is involved in manufacturing and selling a single product. The fixed cost to run the business is $15,000 and the constant marginal cost is $7.50 per unit. The sale price of your product is $15 per unit.
(a) Find the revenue function, total cost function and profit function. (Let x be the output level)
(b) Using the functions in part (a), find the breakeven point.
(c) State the condition(s) under which you can make a profit
What is an individual depositor'spayoff when he withdraws at t = 2 as a function of the number of remaining depositors who withdrew at t = 1?
After a series of public accounting violations and several lawsuits about hiring practices, ABC Corporation added an Ethics Hotline and Ethics training to its organization.
Consider a couple's decision about how many children to have. Assume that over a lifetime a couple has 200,000 hours of time to either work or raise children.
Illustrate wow would the existence of such insurance affect the amount of clothing that people buy. How would you evaluate this change in behavior from the standpoint of economic efficiency.
Illustrate what is the cost of producing 10 units in the short run? First conclude how much labor is needed.
Suppose that the matching function is given by: M = em(Q, A) = eQ^(0.7)A^(0.3) Express pc and pf as functions of e and labor market tightness j. Suppose that z = 1, b = 0.4, e = 0.9 and k = 0.24. Suppose that w = 0.75 Find the unemployment rate in th..
The more narrowly we define a good, the easier it is to find substitutes, and
If interest paid on the account was compounded annually, explain how much interest on interest was earned.
Should the firm produce? The firm should produce as long as the market price >= Average Variable Cost (AVC).
explain how many smoothest sold by each firm, and illustrate what is the profit made by each firm.
Why does the percentage gain in earnings observed when worker gets one more year of schooling measure the marginal rate of return education?
If 150 million workers produced America's GDP in 2010, according to the "World View" above, how much output did the average worker produce?
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