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A cubic total cost function is expressed as TC=a+bq+cq^2+dq^3 if a=0 b=400 c=-50 and d=5 then
A. What are MC (Marginal Cost) and ATC (Average Total Cost) respectively equal to?
B. At what output levels are MC and ATC respectively minimized?
The high rates of unemployment and business bankruptcies during the Great Depression of the 1930s caused a dramatic increase in government intervention in the economy of the United States. What was the original intent of this government intervention?..
What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue? Explain your answer.
Which of the following determine an individual's wage? If the price of output in an industry falls, firms in that industry will ______ labor.
She could also use her entire budget to buy 3 uglifruits and 8 breadfruits per day. The price of uglifruits is 8 yen each. How much is Natalie's income per day?
Assume that the multiplier in a country is equal to 4 and that autonomous real consumption spending is $1 trillion. if current real GDP is $12 trillion, the current value of real consumption spending is $ ______ trillion.
Why is the average fixed cost curve always declining
Three alternatives are being considered. Alternative A has a useful life of 3 years; Alternative B, 5 years; and Alternative C, 6 years. Using the longest life (LCM) approach, what is the planning horizon?
Identify an organization with which you are familiar. What are some factors in this organization that might affect the strategies they take in developing their socially responsible efforts? What are some of these efforts?
What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Explain
Suppose that one firm is the only employer of a certain labor service (i.e., the firm is a monopsonist). Assume its MRPL is given by L= 11 w and the labor supply is L = W. What is the wage paid and the number of labor hours hired by the profit maximi..
What happens to price and output in the Cournot, Bertrand, and Stackelberg models if marginal costs increase by 10 percent? The market demand is p = a ? bQ and the marginal cost is constant across firms, i.e. mc1 = mc2 = c. You may consider for two f..
Which one of the following would increase per-unit production cost and therefore shift the aggregate supply curve to the left?
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