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A monopolist's demand curve is P = 100-Q and the total cost curve is TC = 16 + Q^2. The associated marginal cost curve is MC = 2Q. What is the profit maximizing quantity and price, and what will be the economic profit?
Suppose a firm has total cost function given by TC(Q)=10Q+70. What are its marginal costs when producing 10 units of output?
EZ Sharp industries Inc manufactures the Keen Edge line of diamond abrasive cutlery sharpeners for home use. Dia Sharp holds a patent on ist unique design and can earn substantial economic profit if it prices its Keen Edge products wisely.
Use the following information to answer following questions, Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase?
Is your employee affected by increases in the minimum salary. In what way is your employer affected by minimum wage increases.
price floor. There is considerable interest in whether the minimum wage rate contributes to teenage unemployment. draw a demand and supply diagram for the unskilled labor market, and discuss the effects of minimum wage. Who is helped and who is hu..
What is autarky price and quantity equilibrium for both home and foreign? What is the open trade price and volume under free trade.
You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university.
Explain why did the Fed begin to raise interest rates at a point in the economic recovery with concerns over terrorism and rising energy prices causing great uncertainty.
Elucidate at what price also quantity will marginal revenue be zero. At what price and quantity will marginal revenue be maximized.
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 by using 2004 as the base year. By what percent did prices increase?
In a recent speech, the governor of your state announced: "One of the biggest causes of juvenile delinquency in this state is the high unemployment among 16 to 19 year olds. The low wages offered by employers in the state have given fewer teenager..
The United States Bureau of Census publishes employment statistics and demand forecasts for many occupations.
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