Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose Gus operates a small chicken restaurant in a perfectly competitive industry. His variable costs represent the costs of acquiring food and can be expressed as TVC(Q)=Q^2−(1/2)Q. Because his restaurant is in a dangerous neighborhood, he must pay a security officer to guard the restaurant whenever it opens. This officer’s wages are $27. He also must refrigerate his food, and refrigeration costs $5 and is independent of the amount of food (inputs) he purchases on a specific day. Finally, regardless of whether he operates, he is contractually obligated to pay rent for his restaurant which costs $20.
(a) What are Gus’s sunk fixed costs? What are Gus’s non-sunk fixed costs?
(b) Suppose the market price of chicken is $15.50. How much chicken will Gus produce?
(c) Suppose the market price of chicken is $5.50. How much chicken will Gus produce?
Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
When a U.S. citizen buys goods from a foreign merchant, the goods are usually paid for by having the U.S. citizen send a personal check or dollars directly to the exporter. Foreign exchange refers to. Meetings among the leaders of the Group of Seven ..
The table below shows the hypothetical prices and quantities demanded of a software product. Assume that the fixed cost of setting up the production of software is $200 and the marginal cost is $5.
The economy has a capital share of a half, a saving rate of 24 percent, a depreciation rate of 3 percent, a rate of population growth of 2 percent, and a rate of labor-augmenting technological change of 1 percent. It is in steady state. At what rates..
Elucidate the effect of capital formation by compering the production possibility curve,at the present time and ten years in future, for two economies,one with a high and the other with a low rate of capital formation
A deposit of $ 40,000 is put in a savings account at an interest rate of 3%. The interest is compounded quarterly, Equal annual withdrawals are to be made from the account, beginning one year from now and continuing forever. What is the maximum annua..
A mechanical engineer must recommend a new heating system to a commercial building owner. The owner intends to sell the building in 15 years. Determine the equivalent uniform annual cost (EUAC) of costs for the option the engineer should recommend at..
For depreciation purposes, the purchase cost of the warehouse is divided into $100,000 in land also $400,000 in building. The building is a CCA Class 1 asset also is depreciated accordingly.
Describe the effects of decrease in the population growth rate on the golden rule quantity of capital per worker and on the golden rule savings rate.
An economy has 110,000,000 people employed 8,000,000 unemployed, and 4,000,000 discourage workers. The conventional measure of the unemployment rate is what percent?
Developed produces two goods, manufactures and food, using three factors of production: capital, land and labor. The production of manufactures requires capital and labor, while the production of food uses land and labor. All the arable land is in th..
Assume that a hypothetical economy with an MPC of 0.75 is experiencing severe recession. By how much would government spending have to rise to shift the aggregate demand curve rightward by $30 billion? $ billion.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd