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A company produces an electronic timing switch that is used in consumer and commercial products. The fixed cost (CF) is $73,000 per month, and the variable cost (CV) is $94 per unit. The selling price per unit is p= $180-0.02(D). For this situation, determine the optimal volume for this product.
When a firm is no longer able to reduce its long run average cost by expanding, it has achieved its minimum efficient scale of production. legislation that benefits many individuals at the expense of a few is a natural ..
Discuss on relationships between production and cost, highlighting the equivalence between diminishing marginal productivity and increasing marginal costs.
What are the problems faced in determining the demand for a durable good? Illustrate with example of demand for households refrigerator or television set.
Imagine cell phones are simple and the only thing consumers care about is minutes. Suppose a monopolist wireless company says, "The cell phone and the first 6 minutes are free, and the price of each additional minute is $2." Now suppose your deman..
The great philosopher Rogers once said that you need holding knowledge (H), folding knowledge (F), and economics knowledge
1. consider the problem of maximizing uc t subject to pc wl wt y where c is consumption leisure time t is the total
Each day millions of Americans purchase millions of goods andservices. These goods are services are generally readilyavailable, as long as you have the necessary money to purchase them.
How many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
the demand curve as seen by the firm varies with the structure of the relevant market. what is the structure for a
What does IPO stand for? What are the primary and secondary markets for stocks? Are there advantages of going from a public corporation back to a private corporation?
Montana is home to a number of firms offering wilderness hunting experiences to wealthy city dwellers. However, the profits of such firms depend on how crowded the "wilderness" is and how many deer are available.
Diamond makes an argument that all stratified societies employ one (or a combination) of four means to enable and justify the distribution of the social surplus. From the readings, discuss feudal stratification and how it was enabled and justified..
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