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Assume that in short-run equilibrium, a particular monopolistically competitive firm charges $12 for each unit of its output and sells 52 units of output per day. How much revenue will it take in each day? If the average total cost (ATC) for those 52 units is $10, will the firm (a) earn a short-run economic profit, (b) break even with only a normal profit, or (c) suffer an economic loss? If a profit or loss, what will be the amount? Next, suppose that entry or exit occurs in this monopolistic industry and establishes a long-run equilibrium. If the firm's daily output remains at 52 units, what price will it be able to charge? What will be its economic profit?
Select an organization you work for or are familiar with. Could the organization you have chosen lower prices to increase revenue?
Suppose that the economy of Tunisia in which there are two products, Determine dollar value of gross national income in Tunisia evaluated at exchange rate?
Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia.Cypress River’s sales vary seasonally.
Discuss and explain the differences between short and long run costs and for the short run, discuss what the relationship is in cost theory and production theory and concept of diminishing returns?
The demand curve for 48" Sony flat screen televisions is likely to move to the right when consumer incomes increase.
a manufacturer is considering purchasing equipment which will have the following financial effectsyearnbsp
A group of five students has decided to form a company to publish a guide to eating establishments located in the vicinity of all major college and university campuses in Texas. In planning for an initial publication of 6,000 copies, they estimate..
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
dimex fabrications co. a small manufacturer of sheet-metal body parts for a major u.s. automaker estimates its
Michelle spends her weekly income of $50 on two goods: cans of hairspray and bottles of nail polish. The price of a can of hairspray is $5 and the price of a bottle of nail polish is $4. If the price of a bottle of nail polish falls to $3:b. the o..
explain the viewpoints of classical and keynesian economists. how did the economy that existed at the time of these
the five alternatives shown here are being evaluated by the rate of return
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