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1. Suppose in a perfectly competitive industry the market demand and supply forces combine to produce a short-run equilibrium price of Rs 70. Suppose that a firm in this industry has a weekly total cost function expressed by the equation TC = 200 + 25Q - 6Q2 + 1/3Q3. Determine the perfectly competitive firm's profit maximizing output rate and the amount of its short-run profits or losses.
2. A competitive firm's total revenue is Rs 100, its total cost is Rs 120 and its total fixed cost is Rs 40. Should the firm stay in business? Why?
The production function of a small shop that frames pictures is Q = 5 √ LK where Q is the number of pictures framed per day, L is labor hours and K is the machine hours.
diagram of a perfect competition
Variable Reserve Requirement (Cash and Liquidity Ratios) The Central Bank controls the creation of credit by commercial banks by dictating cash and liquidity ratios. The ca
Using the CPS data, set the sample to women only and regress lnwage on education & MARRIED (which is 1 if married and 0 if not) and 1-MARRIED. Give a 95 percent confidence interval
Monetary Theory We have seen that Schumpeter theory which runs in terms of innovations and technical change, is at best an incomplete explanation of trade cycle . there are eco
what is cardinal and ordinal utility?.
Discuss the price output determination using profit maximization under perfect competition in the short run.
Ask quesCase Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sens
Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
Q. Explain about Transaction Cost Theory? The below model reveals market and institutions as a possible form of organisation to coordinate economic transactions. When external
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