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TC=0.2Q^2-5Q+30(Q^2 means Q square)
a) What is its corresponding marginal cost curve?
b) If the firm faces a price of $6 per unit, what quantity should it sell?
c) What profit does the firm make at this price?
d) Should the firm shut down?
How much should this firm produce now, and what price should they charge? Explain, calculating total profit or loss earned at this quantity.
Always Round Tire has a production function of Q = 300 L.75 K.5. In the short run, if L = 250 and K = 25, what happens to the output of tires if L jumps to 300 and then 350. What law does this illustrate?
The cranberry market is perfectly competitive. Reports that consuming cranberries can lead to improved health result in a permanent increase in the demand for cranberries and an immediate upward jump in the price of cranberries.
Agricultural commodities are known to have a price-inelastic demand and the be necessities, How can this information allow us to explain why the income of farms falls (a) after a good harvest? (b) In relation to the incomes in other sectors of the..
Higher interest rates have an impact on the value of the dollar. What is the effect and how does this relate to foreign trade?
Angelica pickles manager a Quick copy franchise White Plains, New York. Pickles projects reducing copy 5¢ to 4¢ each, Quick Copy's $600-per-week profit contribution will increase by one-third.
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
What are some ways public policymakers can reduce demand of cigarettes (shift of the demand curve)? Assume the government decides to implement the tax on cigarette manufacturers in order to raise the price of cigarettes. How much does the amount of..
Indifference theory can explain all rational choices and behavior and try the theoryout on this situation. Suppose the only consideration for couples to have a bby or not was money. If a baby costs $8,000 a year.
If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the nominal income of agricultural workers was $35,000 in 2000, what was the average nominal income of agricultural workers in 1990?
Suppose if pollution is bad, why is there any tolerance and programs for pollution rights, tax incentives, and subsidies?
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