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a. Complete the table above. You do not have to complete any cell with "-" in it. Be careful calculating MC and MR; note that output does not change by "1" but by "2".
b. What level of output will this firm operate at in order to maximize its revenues or minimize its losses? (That is not two questions; it's the same level of output in either case.)
c. Demonstrate to me that your answer to (b) above is indeed correct. Calculate the profit for that level of output, as well as the level of output immediately above and below it (so you will have three profit calculations).
two companies company a and company b are deciding whether each should implement a new pricing strategy which may or
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
1.nbsp you are given the following information about the costs of a perfectly competitive
Policymaking is much easier when the state of the economy is easily observable than when there is uncertainty about how the economy is doing, as this problem illustrates. Suppose that the economy is either in an expansion or a recession. Suppos..
In Rolling Stone magazine, several fans and rock stars, including Pearl Jam, were bemoaning the high price of concert tickets. One superstar argued, "It just isnt worth $75 to see me play.
Assume that the two rival "Super Stores", Walmart and Target both adopt price matching rules. If people can discover lower advertised values on any items they sell, then they will match the lower prices.
An (honest) stamp collector is considering selling one of her prize stamps. Based on some very insightful market research she knows that there are two bidders and each bidder just wants to add the stamp to their own private collection and is not worr..
John have many ice cream stores located across the nation. John does not like to work evenings and employee Marcy to work the store in the evening for $7.50 each hour.
For each of the following, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each case the impact on equilibrium price and equilibrium quantity.
how can an economy that is below its potential output level attain equilibrium at potential output and shift the aggregate demand schedule to the left?
Select any industry with which you are familiar. Make a graph of this market in equilibrium. Provide 2-examples for industry of conditions which would change supply and two that would change demand.
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
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