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A firm operates two factories. The cost function at the first plant is C_1(q1) = (q1)^2 + 8q1 + 5 and the cost function at the second factory is C_2(q2) = 0.5(q2)^2 + 2q2 + 10. Find and graph the marginal cost curve for the firm. What is the firm's supply curve?
For lunch, Ada prefers to eat soup and bread in fixed proportions. When she eats X pints of soup, she prefers to eat 2X ounces of bread. If she has X pints of soup and more than 2X ounces of bread, she eats all the soup along with 2X ounces of bread ..
In the space below, draw the complete intertemporal consumption model with investment and money, being sure to label completely and correctly. Next, show the impact of an increase in the money supply using the assumptions of money neutrality. Explain..
State two ways the labor supply curve shifts to the right. Explain how each way impacts the equilibrium wage, equilibrium full employment, total output, productivity, and standard of living in the economy?
In perfect competition, according to theory, all suppliers or consumers are price takers. In practice firms like Purdue Farms (chicken) or Jimmy Dean (sausage) bring a higher price than other brands. Why doesn’t economic theory apply to these organiz..
Suppose the market demand function is given by: Q=100-2P, where Q: total quantity, P: market price. And in this market there are two firms with MC=AV= $10. Find each of the following: Perfect competition price, quantity, and consumer surplus? Monopol..
Elmer Fudd likes to hunt “wabbits” but also likes to hunt duck. His utility function can be expressed as U(W,D)= 1/(-(2W^2+D^2 )^2 ). Solve for the marginal utility of both “wabbits” and duck. Write the tangency condition, what can you tell me about ..
q1. individual has a utility function described by the equation u2xv. the price of x is 32 every item whereas the price
Claire is establishing lines of authority and reporting relationships within the finance department in her company. Which of the following organization-building actions is Claire undertaking:
The Honolulu tourism commission currently proposed a 7% tax on hotel rooms to pay for an outdoor amphitheater.
The production of Electricity releases a harmful gas, SO2. What can the government do to maximize social well-being? Make use of a graph to illustrate your answer.
If the U.S. and Japan trade different versions of cars and the U.S. enact trade barriers against Japanese car imports, what will happen to the level of Japan's horizontal foreign direct investment in the U.S.? Why?
Explain the Diamond Water Paradox. Please explain how our Utility theory (Consumer Choice) explains why some essential goods are cheaper than non-essential goods.
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