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At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 1000 units. What is the firm's current profit? What is likely to occur in this market and why? PLEASE show HOW to get the answer, i.e., calculations!
Suppose that you are the owner and operator of a perfectly competitive firm with the following total cost function.
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A typical policy will pay the replacement cost of $2500 if the boat is a total loss.
Firms A and B each produce 100 units of pollution. Firm A has a marginal cost of pollution reduction of MCA= 10+2QA. Firm B has a marginal cost of pollution reduction of MCB=3QB. The marginal benefit of pollution reduction is $150 per unit. What is t..
You have $12,500 to invest and you are considering investing in Fund X. The fund charges a fron-end load of 3% and an annual expense fee of 2.25% of the ending asset value over the year. You believe the funds gross rate of return will be 8% per year...
How does virtue theory apply to both the decision maker and the act under consideration by that party? Explain.
For the supply and demand curves in the diagram, the level of employment will be highest at: Allocative inefficiency in a labor market may be caused by:
Given all the above factors, which candidate should be selected? (b) By how much would the estimated capital investment for the alternate candidate [the candidate not selected above in (a)] have to vary from your first decision in (a)?
The following table is a record of the data of a competitive firm on labour and output: Reproduce the above table on your answer sheet and complete the table. How many units of labour should be employed to maximise profit? Briefly explain your answer..
Compute the MRS of other goods for airline miles; i.e., the MRS that represents the slope of the indifference curves when x1 is on the horizontal and x2 is on the vertical axis.
Why do prices in monopolistic competitive markets remain above the prices that would exist in perfectly competitive markets even in the long run after entry has eliminated above normal profits?
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