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Consider a single monopoly that faces a market demand curve for a good is given by the equation P=100-.1Q and the total cost function is given as TC=1000+20Q-.4Q(^)(2).
What is the total fixed cost for this monopoly?
Illustrate what role did the policies of various governments play in the influencing the international expansion strategies of both McDonald's and Wal-Mart.
Now take a Rawlins view and assume that the social welfare function is the level of utility of the individual with the lowest utility level. Using the data from Problem 1, and again assuming there are eight oranges, what is the social welfare associa..
What is the greatest advantage to business owners of a corporation vs. other business entities? Which business entities require permission from the state to become created? What is the basic governing document of the modern corporation?
Consider a small open economy in the short run where the government decreases the tax rate. What direction (+/-/or no change) does the tax decrease impact: Y, Money Demand, r, e, and C. You own a hat company which sells both domestically and abroad. ..
The production function at Jerry’s Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. Draw the average product of labor (APL) curve for this production funct..
In a particular competitive market, the sellers have private marginal cost (PMC) equal to 2.5 at every output level. The demand curve has the equation P = 52.5 − (5Q/2), where Q ≤ 21 is the quantity bought at price P ≤ 52.5. Find the competitive equi..
A company is considering replacing a machine that was bought six years ago for $50,000. The machine, however, can be repaired and its life extended by five more years. The seller of the new machine has offered a trade-in allowance of $15,000 for the ..
The production function of a typical food manufacturer has been estimated to be q = K^1/3 L^1/2 where K denotes capital and L denotes labor. In the short run, the firm’s capital is fixed at K ¯ =1000. Derive the short run cost function of the firm. D..
Demonstrate the short-run effect of this tax cut using the IS-LM model also the AD-SRAS-LRAS model. Illustrate what will take place to o/p also the interest rate.
Suppose that a consumer is currently spending all of her income on 10 units of goods A and 5 units of goods on B. The price of A is $4.00 per unit, the price of good B is $10.00 per unit, the marginal utility of the last unit of good A consumed is 20..
Education is a funny business. Schools usually charge the same tuition for all 3 credit classes even though some class times are much more popular than others. At WCC for instance, 11:00 a.m. classes are much more popular than 9:00 a.m. classes. Let’..
Assume that velocity and aggregate output are constant. If the money supply increases from $1.10 trillion to $1.18 trillion:
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