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A firm faces a demand where q=20-P. q is quantity demanded, P is price. Its total cost function is TC = 2q^2 + 2q + 20. How many should it produce to maximize profit? What is the price it charges to its consumers?
Discuss the effect the credit market crisis in the United States in 2008 had in the market for existing single-family homes. Assuming the demand for existing single-family homes is relatively inelastic, what is likely to happen to the total revenues ..
a. if gdp 500 consumption c 350 transfers minus taxes tr - ta 20 investment i 150 and the budget deficit bd 120
“If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public g..
The principal benefit of tariff protection goes to: A ad valorem tariff provides domestic producers a declining degree of protection against import-competing goods during periods of changing prices. When the production of a commodity does not utilize..
Using graphing function on TI-83/84 Explain how price supply and demand are equal. At this price, explain how many tickets will be supplied and sold.
Find an article (newspaper, magazine, or online) that shows the use of money. Your article shows money performing (or failing to perform) at least one of the following functions: (a) medium of exchange, (b) store of value, or (c) standard of value. W..
Using the Lagrangean multiplier approach calculate the optimal (i.e., service maximizing) combination of medical and social staff. Determine the optimal amount of service provided by BF.
What is the solution for the manager of Collinis Import Autos believes the number of cars sold in a day (Q)depends on two factors.
To assess a firm's demand for capital we must determine the present value of marginal revenue products and marginal factor costs of capital. A firm maximizes profit in the hiring of capital when the MRP of capital is greater than the MFC of capital. ..
A firm that acquires a substitute product can reduce inter-product cannibalization by
Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection.
Zamen is a small country located in the midst of the Atlantic Ocean. It is completely isolated: no one goes there, no one leaves. One half of Zamen’s working age population is unemployed. What are the short run effects of Zamen’s sweater export on th..
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