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A firm faces the demand curve Q = 20 – 0.8P and marginal cost MC = 2.5Q.
a. If the firm cannot price-discriminate, what is the profit-maximizing price and quantity?
b. If the firm can practice perfect price discrimination, how many units will it sell?
Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various incomes maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent Ch..
What other variables should be considered when determining what is reasonable in terms of maintenance expense
An accident occurred and an individual lose a leg. Show diagrammatically the utility functions before and after the accident. Show that if you were the Utilitarian, you would give more income to the individual after the accident, but that even after ..
Explain the short run and long run profit maximizing position for a perfectly competitve firm, a monopoly, an oligopoly, and a firm with monopolistic competition. Also include the dynamics of moving form a short run to a long run equilibrium.
Show on a graph the market supply of labour considering the graphs of willingness to work and ability to work? and what happens to the labour supply when the willingness to work and ability to work changes?
Esteez Construction Company has an overhead crane that has an estimated remaining life of 7 years. The crane can be sold for $14,000. If the crane is kept in service it must be overhauled immediately at a cost of $6,000. Operating and maintenance cos..
Smokey's Garage, Inc., provides routine auto diagnostics for customers in the Atlanta, Georgia, metropolitan area. Tests are supervised by skilled mechanics using equipment produced by two leading competitors in the auto test equipment industry. Does..
1. derive the fundamental equation of the solow model2. country a as well as country b both have the production
Suppose the average Social Security benefits in the nation are $14,000 per year. The number of Social Security pension recipients is currently 50 million. There are 150 million workers in the workforce this year and the average taxable wage per worke..
Air transport for businesspeople and tourists
How did the Social Security system influence the size of budget deficit during 1985-2010? How will it influence the deficit during the next two decades? Why or why not?
An advertising campaign that makes people more aware of the benefits of chiropractic care
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