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If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then he would maximize his profits by
a) having is typeset and selling 800 copies.
b) having it typeset and selling 1,000 copies.
c) not having it typeset and not selling any copies.
d) having it typeset and selling 1,600 copies.
e) having it typeset and selling 400 copies.
Differentiate the real exchange rate and the nominal exchange rate and describe two reasons why purchasing power parity does not hold for all goods and services.
What would be the total potential gains from trade if the ski resort and the birders were able to negotiate and what are the total net benefits of the economically efficient number of ski resort acres
Although Ken Brown (discussed in problem 3-16) is the principal owner of Brown Oil, his brother Bob is credited with making the company a financial success. Bob is vice president of finance.
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss.
Discuss the Henry George idea for a single tax on real estate and why did the California State Lottery extend the payoff period from 20 years to 26 years?
Explain how, with trade, Nebraska can end up with 40 million bushels of wheat and 120 million bushels of corn while Iowa can end up with 40 million bushels of corn and 120 million bushels of wheat.
Find Total Revenue or profit
Describe why it would cost Andre Agassi or Venus Williams more to leave professional tennis tour and open the tennis shop than it would for the coach of the univeristy tennis team to do so.
Intelligent fiscal policy and appropriate monetary policy permit for a stabilizing influence on US economy. The government is able to make action through expansionary or contractionary fiscal policy to manage recession and inflation when necessary.
Write the equation for Total Costs and what is TC when profit is maximized - what is Total Revenue when profit is maximized?
Prepare an essay on Minimum wages are likely to harm those they are designed to help.
Analyse the impact of an increase in the price of crops and a (proportionately smaller) decrease in the price of fuel on a low income person who spends most of her income on food (derived from crops).
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