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Consider Bob’s DVD company described in the previous question. Assume that DVD production is a perfectly competitive industry. For each of the following questions, explain your answers.
a. What is Bob’s break-even price? What is his shut-down price?
b. Suppose the price of a DVD is $2. What should Bob do in the short run?
c. Suppose the price of a DVD is $7. What is the profit-maximizing quantity of DVDs that Bob should produce? What will his total profit be? Will he produce or shut down in the short run? Will he stay in the industry or exit in the long run?
d. Suppose instead that the price of DVDs is $20. Now what is the profit-maximizing quantity of DVDs that Bob should produce? What will his total profit be now? Will he produce or shut down in the short run? Will he stay in the industry or exit in the long run?
Study an organization of your choice and recommend methods to decrease costs. Determine what effects do technologies have on costs and what are some lower cost sources organization may utilize to decrease cost?
For many years, your company has been protected through patents, Technological change and introduction of new products have been slow.
Intelligent fiscal policy and appropriate monetary policy permit for a stabilizing influence on US economy. The government is able to make action through expansionary or contractionary fiscal policy to manage recession and inflation when necessary.
Marginal propensity: 0.63 - 0.76 what is expenditure multiplier? wil increase from __ to _____ and if multiplier increases, everything else equal. changein expend. will raise aggreg. ependiture to a [larger,smaller,same] amount
Sketch the ppf ’s for both countries.d. Assuming no trading between the two, if both countrieswanted to have equal numbers of feet of timber and basketsof fruit, how would they allocate workers to the two sectors?
What role can the government play in reducing the emission of greenhouse gases? What role can individuals play? If you were the economic advisor in the government, what economic measures would you suggest to tackle global warming?
Describe the welfare costs of a monopoly and discuss the regulator organizations that monitor anti-trust in America. Name these organizations and their functions.
Analyse the impact of an increase in the price of crops and a (proportionately smaller) decrease in the price of fuel on a low income person who spends most of her income on food (derived from crops).
Confirm your quantity and price results algebraically and calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
Describe the opportunities that might be available through better use of information technology (IT) in the U.S. health care system. What might explain the system's failure to better capitalize on these opportunities
Calculate the break-even weight for weaners. Show your calculations here and Develop a partial budget for a change in weaner cattle production.
The cost of transporting goods and the price of obtaining information has decreased substantially over the past 100 years.
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