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A firm's cost function is TCi = a + bqi + c qi2, where a, b and c are positive constants a. Find its marginal cost function, and show that MC is increasing for all q. b. Find its average total cost function. Now, prove that at the quantity that minimizes ATC, MC = ATC. c. Suppose TCi = 1000 + 20 qi + .1 qi2 Find the firm's short run supply function, qi(P). If there are 3 identical firms in this market, what is the market supply function? If demand is Qd = 1000 15 P, what is the short run equilibrium price? What is each firm's profit or loss? What is the industry's consumer surplus? Is this market in long-run equilibrium? How can you tell? d. In the long run, what is each firm's optimal quantity? What is the long-run equilibrium price? How many firms will exist in the long run?
Austria has a history of strong hostility to nuclear power, and over the last twenty years the Austrians have shut down all of the reactors in Austria
Determine the percentage change in price required to increase the quantity demanded of public transportation by 12%.
Louie produced 300 fire trucks. What action leads to both gains in revenue and loses in revenue for Louie.
Marginal revenue product is defined as the change in total revenue that results from the employment of an additional unit of a resource. a widget producer wishes to describe how the addition of pounds of rubber will affect its MRP and profits.
Is there much research into the long term impacts of government fiscal contractions. I have heard about 2nd generation unemployed as a result of Thatcher's policies but that is very much anecdotal. What does the literature have to say on the matter?
DHL prides itself on having its own staff of more than 300,000 people spread across the globe, instead of relying on local agents.
If the government were to increase taxes on gasoline, what will happen to the total government revenue? Why? What are you assuming about the elasticity of the demand curve of gasoline? What is the formula for elasticity?
Absolute and comparative advantage: Explain how these concepts describe the benefits and costs of international trade.
Assume that in 2007 the U.S. Government issued a debt security with a purpose of consolidating all of the federal national debt. At the time of the issue, each security was priced at $15,000 and promised to pay 10% coupon rate indefinitely, just as i..
Elucidate why an upward sloping aggregate supply curve is thought to weaken the impact of a rightward shift of the aggregate demand curve generated by an increase in government spending in the short run.
Explain how much of the tax will the sellers pay. How much will the buyer pay for the product after the tax is imposed.
Elucidate which of the following U.S. policies and institutions may negatively influence U.S. long-run economic growth.
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