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 the competitive market price is $50, and a competitive firm’s total costs = 5q2 - 10q + 150 and marginal cost = 10q - 10.
a. Solve for the profit-maximizing (or loss minimizing) quantity (q*).
b. What is the market equilibrium price?
c. Should the competitive firm produce q*? Explain why using one of the four key questions and solutions.
d. Does the competitive firm make a profit? Explain why using one of the four key questions and solutions.
e. How much profit (or loss) does the competitive firm make?
Suppose the short-run production function is q = 6L^2. If the wage is $12 per unit of labor, then: What is the average variable cost?
You and your spouse just adopted twin girls, little Heather and Beth. You want to make sure theyare taken care of for the next 22 years. (A)Based on the following information, how much lifeinsurance needs to be purchased for the husband, if any? (B) ..
The local swimming pool charges nonmembers $10 per visit. If you join the pool, you can swim for $5 per visit, but you have to pay an annual fee of $F. Use an indifference curve diagram to find the value of F that would make it just worthwhile for yo..
Do you think in legal matters and health matters and so forth people should be economically valued differently? or should there be one standard amount each person is worth/
Assume that the economy is currently in short run equilibrium but is experiencing inflationary gap. If you are a Keynesian economist and believe that economy is NOT self-regulating under these circumstances, graphically illustrate and explain how the..
In a market served by a monopoly, the marginal cost is $60 and the price is $110. In a perfectly competitive market, the marginal cost is $60. What would happen to the price in each market if the marginal cost increased from $60 to $75?
Most countries import substantial amounts of goods and services from other countries. Yet the theory says a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two f..
Discuss the differences between elasticity of supply and elasticity of demand answering the following equations:
Recall the second price auction game. Now suppose that there are three players, 1, 2, and 3, bidding for a single object in a second price auction. All three players value the object at 10, i.e., v1 = v2 = v3 = 10. For i = 1, 2, 3, let bi denote play..
All economic systems (capitalist, communist, or any other) face similar economic problems. Which of the following questions would NOT be faced by all economies?
Wolfe and Baker are the only two firms producing door stopers because of such a small market in their area. Both firms have a marginal cost (MC) of $8 and no fixed cost (FC = $0). The demand for door stopers is given by function P = 32 - Q, where P i..
Suppose that clean srings water c ompany has a monopoly on bottled water sales in california. suppose that the price of tap water increases. which is the change in the profit maximisation price and level of output for CSWC. explains in words and..
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