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A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items. He also finds that the break-even point is 50 items. a. Find the revenue function. b. Find the cost function. Explain step by step
Consider the utility-maximizing model in a two-good world, where our representative consumer has well-behaved preferences that result in smooth indifference curves that are convex to the origin. Place good one on the horizontal axis.
Describe an environment in which permit trading can contribute to economic efficiency. How do permits make such a contribution?
Evaluate the MU in the utility functions
abc co. has recognized numerous opportunities to expand in foreign countries and has assessed many foreign markets
A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $3,000,000 and it is estimated it will save $750,000 per year in manual labor, and will incur $27,500 in operat..
"Perfect Competition" Please responds to the following: Examine a perfectly competitive firm that you have recently purchased a product from, focusing specifically on how it relates to the characteristics of the market.
question on 4 different graphs illustrate what happens to equilibrium price and quantity in the market for orange juice
What is the current rate of unemployment
a. graph and explain what would occur if the fed sold 1 million dollars worth of government securities to an agent when
First write down the assumptions and state the utility maximization problem for a single-member household that is agriculturally productive but has no access to labor markets.
assume that from the initial consumer equilibrium position price of good x falls while price of good y remains the
for this assignment you are to continue using the same fortune 500 company you selected in unit 4. the focus here is on
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