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Suppose the market for French fries is perfectly competitive. A small operator of a french fry stand has a short run total cost function STC(Q) = 4Q^2 - Q + 1
Part 1 - What is the profit maximizing output when the price is $7?
Part 2 - At what price would the firm choose to shutdown?
Part 3 - What is the short-run market supply curve? Assuming there are 50 identical firms currently operating.
Considering a two-player, sequential game where each player can choose to play right or left. Player 1 moves first, and player 2 observes 1’s actual move and decides to move up or down. If both of them moves left, then payoffs for player 1 is $-5 and..
Why do you think the FED evaluates the money multiplier when making decisions with regard to the money supply What function does the money supply serve in our economy to influence certain economic variables
the following cobb-douglas production function is used to describe the output generated by a local government
Suppose you are a manager of a factory and purchased five new machines at one million dollars each. You can sell two of the machines for $500,000 each and three of them at only $200,000 each. What is your sunk cost?
explain how the short-run phillips curve the long-run phillips curve the short-run aggregate supply curve the long-run
Assume that all consumers have identical demand curves for local telephone service, and the producer of such service is a monopoly. Compare price, output, profit and consumer surplus when (a) the monopoly set a uniform price fir the product. (b) t..
write a program to input a purchase amount and calculate the sales tax and total do. the salestax depends on the county
You are hungry. Very hungry. You come across one of several restaurants in a given area. As you look through the menu posted outside the door, you see that the prices are about double of what you expected.
determine whether gdp will be underestimated or overestimated in each of the followingthe quality of goods is
It is believed that fiscal policy is more effective under a fixed exchange rate than a flexible exchange rate. Using the IS-LM model, illustrate and explain this differential impact for an expansionary fiscal policy.
Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products which are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of such firms products permits them to charge prices a..
The average of 5 numbers is 52. Suppose five more numbers are included in the set of numbers and these five numbers equal 0, 100, 48, 90, and 50. What is the new average?
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