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Marginal revenue - Positive, negative, or zero?
Given each of the following price elasticities, determine whether marginal revenue is positive, negative, or zero. -5, -1, -0.5
Compute the total fixed costs, total variable costs, average fixed costs.
Compute the implied arc price elasticity of demand. Is a further price decrease warranted.
Determine the profit-maximizing prices both firms will charge. In addition, calculate the price-cost margin for each firm and indicate which has more pricing power and why.
Illustrate what are the production elasticities of demand for labor, capital (trucks) and energy. What type of returns to scale is consistent with the above production function.
To best serve customers interested in buying cars over Internet, Smart Motors, hire Nora Jones to respond to customer inquiries.
Physical capital, Natural resources, Human Capital and Technical Knowledge, should it be Government policy to subsidize the production or acquisition of all or these?
Fill in the missing data for price (P), total revenue(TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (π), and marginal profit (Mπ) in the following table:
Does the transaction of a buyer also seller directly affect a third party. Is the effect a negative or positive externality.
Calculate total factor productivity growth (our measure of technological progress) for each country using the growth accounting framework discussed in class.
Compute the point price elasticity of demand for bearing grease.
How might there be increase in total spending on a child's education in response to providing a fixed level of education?
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
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