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A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units?
Illustrate what are the major determinants of price elasticity of demand. Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inelastic.
calculate the percentage change from 2001 to 2002 in nominal GDP, real GDP, and the price level. What is the value of the GDP deflator in 2002?
Explain how many hours of leisure does she consume. How many dollars of consumption does she consume.
Explain what are the implications of this for the relative stability or instability of the prices of pork and lamb compared with other foodstuffs.
Goods and services that are not sold in markets, such as food produced and consumed at home and some household articles, are generally not included in GDP
What Price is plotted on the vertical axis, and quantity is plotted on the horizontal axis.
The percentage effect which increase in output will have on the profit made from producing and selling commodity Alpha will be.
Estimate each of these alternatives from the perspective of economic efficiency, equity, and the likely long-term impact on the firm.
The inverse demand for your product is P = 200 - 0.1Q in for tourists and P = 500 - 0.2Q in for business travelers. If you price discriminate, what are your optimal prices to the two types of travelers?
Illustrate what is the capital account balance. Illustrate what is the financial account balance.
Advertising is powerfull strategy to make people aware about company products and services and for this case is to emphasize reliability and low price, this effort will help the company to sustain in this area and to develop a customer franchise a..
What is the purpose of economic sanctions? What problems do they pose for the nation initiating the sanctions? When are sanctions most successful in achieving their goals?
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