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A new contraption to help you eat yogurt easily while driving, autogurt, is now on the market. It costs Justin $2 in equipment per unit, and takes him approximately 6 min to make. Justin charges $20 per hour. Justin additionally pays an electricity bill of $50 per month.
How much must Justin charge to avoid shutdown?
Compute the marginal profit function and what is the profit maximizing price, what is the market demand function and what is each firm's supply function?
If the total cost of producing 20 units of output is $1000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?
Suppose as your company's lobbyist, what would you like to see done through Federal government that would be of help to your company? This could be what government could do or what they could stop doing this.
What is the marginal cost associated with two units of production and the law of diminishing marginal productivity
Write down everything you would require durint your preparation for the debate.your preparation should include graphs and formulas.
Describe what is meant by the Gold Standard and what were the problems with the gold standard?
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
The production possibilities curve represents the set of all and the opportunity cost of a glove in Panama - an airplane manufacturing consortium in Europe, which receives large subsidies from several European countries.
For each of the following events, indicate whether the AD or the AS curve shifts. In brief describe the reasoning behind your choice.
What does this decision by Wal-mart tell you regarding the price elasticity of the demand curve that it faces?
minimum wage legislation increases costs of production (and thus product prices) and creates an excess supply (unemployment) of unskilled labor.
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