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The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. The total variable costs are $20 for one aquarium, $25 for two units, $35 for three units, $50 for four units, and $80 for five units. In the form of a table, calculate total revenue, marginal revenue, total cost, and marginal cost for each output level (one to five units). What is the profit-maximizing quantity of output? (Taylor & Greenlaw, 2014, p. 203)
"If Mexico is currently operating at a point beyond its production possibilities frontier, then there are unemployed or misallocated resources in Mexico." Is this statement true or false?
A certain machine will cost $50,000 to purchase, will have a six-year life, and $5,000 salvage value. It will be updated in year 4 at a cost of $15,000. Its annual operating cost is expected to be $30,000 per year. At an inflation rate of 5% per year..
The Blue Dragon Restaurant is a new Chinese Restaurant in town. As the only Chinese restaurant in the area, it faces the following daily demand curve:
Country: Japan Broaden your statistical profile to include at least five recent (post 2010) statistics to give someone who doesn't know anything about your country a fair understanding of your country’s situation. What are some major demographic tren..
Based on heckscher online theorem. As a labor abundant country exports the labor intensive good X and imports the capital intensive good y from a capital abundant country.
q1. is holding an investment he bought for 1000 that has a 60 percent chance of gaining 200 in value and a 40 percent
Assume a model where the currency ratio is 0.4 (c = 0.4), the excess reserve ratio is 0.2 (e = 0.2), and the required reserve ratio is 0.1(r = 0.1). What is the money multiplier? What change in the money supply results from an open market sale of $25..
Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually.
What effective interest rate should be used for a semiannual (twice per year) payments with an APR=15% compounded weekly? Show all your work
Explain why the change is not likely to be a pareto improvement. Which of these changes might be approved under the compensation principle? Which might be approved under a Rawlsian social welfare function?
Compared to monopoly, perfect competition has ___ prices, ___ output and ___ barriers to entry.
Why do economic include only final good and services in measuring GDP for a particle year! Why don't they include the value of the stock and bonds bought and sold! Why don't they include the value of the used furniture bought and sold?
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