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since the AC curve in the problem is upward-sloping everywhere, it is not possible to construct a zero-profit equilibrium given the assumptions of the problem (this outcome requires a U-shaped AC curve). this problem will consider an alternative example where a long-run equilibrium exists. let the total cost function for an individual firm be give by C = 240Q - 40Q^2 + 2Q^3. compute average cost for Q = 1, 2, 3,...,14, 15. a) using your results, find the long-run equilibrium price in the market. this price is given by p = ?, and output per firm is Q = ?. b) suppose that the (inverted) market demand curve for the product is given by Q = 50000 - 10000P. what total quantity is demanded at the long-run equilibrium price? c) from (b), you know how much total output must be delivered by all firms operating int he long-run equilibrium. using this number along with the results from part (a), compute the number of firms in the industry in the long-run equilibrium. this number is ?
What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?
Use Human Capital theory and describe the relationship between skill and unemployment. Naturally, economists and the public at big usually think of skill level having having an inverse relationship with unemployment.
Describe the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs.
In a short run condition in which quantity demanded equals quantity supplied in a competitive industry, with value greater than the average cost of the typical company,
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
People expected that a tax cut was temporary, then this fiscal policy's effect on the economy will tend to be and the economy is at equilibrium at Point B. What would expansionary fiscal policy do
Suppose that the price of good X rises and the price of good Y falls in such a way that the consumer's new optimal consumption bundle lies on the same indifference curve as his old bundle. Graph this situation. Compare the quantities demanded be..
Select an organization that has a high fixed cost and low variable cost balance to run its operations. Explain and discuss the balance of fixed and variable costs for the organization.
If the bank maintains a reserve requirement of 2 percent, what is the maximum loan that the bank A can make b) what is the maximum amount by which the money supply can by increased as a result of bank A's new loan
The WSJ recently reported that Juniper Networks plans to offer its more than 1000 employees opportunity to reprice their stock options.
(a) Will a monopolist's total revenue be larger with second-degree price discrimination when the batches on which it charges a uniform price are larger or smaller Why (b) How does a two-part tariff differ from bundling
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
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