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A competitive firm is facing the market price of $120 and has a short-run total cost function ofTC = 2Q2 + 200. The corresponding MC = 4Q.
(a) Sketch the demand curve, MR curves well as the MC curve as per information above.
(b) What volume of output should the firm produce?
Initally, the population of Cape Despair is constant and real GDP per hour of labor is at the subsistence level of $15. Then a technological advance shifts the production function upward by 50 percent at each level of labor.What are the initial le..
Output 1 2 3 4 5 6 7 8 9 Variable Costs $35 75 110 140 175 215 260 315 390 a. Show AFC, ATC, AVC, and MC in a table b. Graph the AFC , ATC, AVC, and MC curves c. Explain the relationship between the MC curve and AVC and ATC curves.
Suppose this firm could predict next week's price but could not influence that price. What strategy would maximize expected profits in this case? What would expected profits be?
Marginal Revenue of a Monopolist a. Prove mathematically that marginal revenue is always less than price, P(Q). b. Explain this intuitively as well.You may use a graph to help you. Remember marginal revenue is the money the firm takes in after sell..
A decision maker wishedto maximize total benefit, B=3x+xy+y, subject to the cost of constraint, C=4x+2y=70. Set upthe Lagrangian and then determine the values of x and y at the maximum level of benefit,given the constraint. What are the maximum be..
What is meant by immiserizing growth? Which type of growth will most likely lead to an increase in the nation's welfare?
Observer S detects two flashes of light. A big flash occurs at Xl = 1200 m and, 5.00 fLs later, a small flash occurs at X2 = 4S0 m. What is the speed parameter of S'
suppose there are 2 countries home and foreign two factors of production capital and labor and two products food and
what is the price level in 2010?b) what was the real GDP in 2011c) what was the velocity of circulation in 2011?d) what was the quantity of money in 2011?
To get a gallonof sunscreen the people of Sunland are willingto give up 5 lbs of food if they have 25 galons of sunscreen, 2 lbsof food if they have 75 gallons of sunscreen, and 1 lb of food ifthey have 125 gallons of suncreen.
Discuss ways that a buying spree like that of Mr Van der Hoeven can create problems for the group auditor?
Consider the situation involving the creation of a routing loop in the network of Figure 4.15 when the A-E link goes down. List all sequences of table updates among A, B, and C, pertaining to destination E
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