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You work at a shop with lots of competitiors, these competitors act as price takers. The market supply and demand curves result ina price of $10 for your product.
SRTC function equals to 845 + 5Q +Q^2/80
1. Write down the equation for profits.
2. Assuming that yoru firm's objective is to maximize profits, what is the profit maximizing output they would choose?
3. What they produce the output found in part 2? Or shut down temporarily?
4. Plot this relationship to show the market demand and market supply (assume to be linear) And show where the profit is.
The U.S. has historically low interest rates at present. How would you predict these would impact the value of the dollar on foreign exchange markets? How, in turn, would these low interest rates impact our balance of trade?
Given the figures provided, calculate the GDP for the country, using the Expenditure Approach ONLY. Show your work. National income = 1,000, personal consumption = 3,000, net private domestic investment = 1,500, government purchases = 2,000, exports ..
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The Townsville City Council is considering a proposal by the mayor to construct a recreational facility at a cost of $1.0 million. The facility is expected to have a useful life of 30 years during which operating costs are expected to average $100,00..
The risk of failure is an inherent part of free enterprise. Does society have an obligation to come to the aid of entrepreneurs who try but fail? Why or why not? Also, please discuss some ways you can minimize your risk.
Explain the basics of stakeholder theory as if you are talking to a friend. Should a corporation care about the interests of people other than shareholders? How would a corporation behave differently if it accepted a shareholder theory versus a stake..
The gains from specialization and trade are based on comparative advantage, which reflects the relative opportunity cost. When countries specialize in producing goods and services for which they have comparative advantages, total production in the gl..
Suppose that households in the U.S. increased their desired holdings of currency by $55 million as the Fed was adding reserves to the banking system. How would your answer to question (2) be affected, assuming that the Fed still wished to generate an..
Suppose Jason has allocated his entire budget to the purchase of apples and bananas. The marginal utility of the last apple purchased is 10 utils and each apple costs 10 cents.
Suppose the powers-that-be think the llliana Expressway is a good project and they proceed to bulid the section that links up Interstate 355 over by Joliet down to Interstate 65....right by the sleepy hamlet of Lowell, Indiana. Assume that Lowell pre..
For each case below, please state if the person mentioned is unemployed for Frictional, Structural, or Cyclical reasons.
Illustrate what adjustments are required for China to rebalance its current account. Illustrate what risks are inherent in such adjustments.
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