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A real estate brokerage firm is hired to sell condominium units of a government housing project. The government is not willing to pay a traditional commission per condominium unit sold and will only pay a flat fee of $2,000 per unit sold. The manager of the brokerage must determine how many real estate agents to hire. She estimates the following marginal product schedule for real estate agents:
(a) Calculate the marginal revenue product given this information.
(b) How many real estate agents will the manger hire if the wage rate is $32,000? Why?
(c) How many real estate agents will the manger hire if the wage rate is $18,000?
(d) What is the marginal revenue product of each real estate agent if the fee paid by the government increases to $3,000?
(e) If the government pays $3,000 per unit sold and the age rate is $30,000, how many real estate agents will the manager hire?
The owner-manager of Good Guys Enterprises obtains ulility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures.
What is the monopolist's profit-maximizing level of output - what price will the profit-maximizing monopolist charge and how much profit will the monopolist make if she maximizes her profit?
Find an expression for average costs (AC) and average variable costs (AVC). Graph them together with marginal costs and find the firm's short run supply curve. Is the whole curve relevant to the long run?
Calculate the incremental profit that south park would earn by customizing its instruments and marketing them directly to end users.
Want the duration of its assets to be greater than the duration of its liabilities - a positive duration gap.Want the duration of its assets to be greater than the duration of its liabilities - a negative duration gap.
xyz common currently sells for 3share. you believe that one-month hence the stock could be worth 8 or could be
Cigarettes are subject to a federal tax, which was about 40 cents per pack in 2007.What does this tax do to the market-clearing price and quantity?
Consider a market characterized by the following inverse demand and supply functions: PX = 50 - 4QX and PX = 10 + 2QX. Compute the surplus producers receive when a $30 per unit price floor is imposed on the market.
For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output?
addressing overall expenditures in the u.s. health care industryconsider whether in your view the overall costs
Why is investment spending not equal saving in the circular flow?
Suppose that you are on the board of directors of a firm which is the dominant firm in the industry. That is, it lets all of the other firms, which are much smaller, sell all they want at the existing market price. In other words the smaller firms..
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