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Merlin is like all other managers in a perfectly competitive industry except in one respect: Because of his great sense of humor, people are willing to work for him for half the going wage rate. All firms in the industry have short-run total cost curves given by TC = M + 10Q + wQ2, where M is the salary paid to managers and w is the wage rate. This total cost curve has a marginal cost curve of MC= 10 + 2wQ. All firms in the industry have the same short run economic profits, and face a market price of $28. If the wage rate for all other firms is w = 2, how much more will Merlin be paid than the other managers in the industry?
A mine is for sale for $450,000. It is believed the mine will produce a profit of $100,000 the first year, but the profit will decline $5000 a year after that, eventually reaching zero, whereupon the mine will be worthless. What rate of return would ..
outsourcing offshore please respond to the following answer the following discussions on the decision to outsource
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
Normal 0 false false false EN-US X-NONE X-NONE Explain the multiplier intu..
for most firms today success or failure is determined by the ability to find attract keep develop and tap into the most
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assignment describes price elasticity of demand income elasticity of demand and cross elasticity of demand of toyota
For each of the following cases, calculate the arc price elasticity of demand, and state whether demand is elastic, inelastic, or unit elastic.
Shares of consumption, investment, and government spending as a part of GDP. Use nominal GDP for these calculations. Biggest contributor in GDP.
suppose the chairman and chief executive officer of general motors has decided to a raise the companys auto prices by
The government is considering a policy to reduce air pollution by restricting the use of "dirty" fuels by factories. In deciding whether to implement the policy, how, if at all, should the likely effects of the policy on real GDP be taken into acc..
Suppose an economy described by the Solow model has the following production function: Y=k^1\2(LE)^1\2 a)For this economy, what is f(k)?
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