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Assuming the price of labor is $6 per unit and the price of capital is $12 per unit; compute the total variable costs, the marginal costs, and the average variable costs for the firm.
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost. Using the same numbers, explain the "marginal cost" in terms of additional inputs needed to produce a marginal unit of output. If the output price was $62, how many units of output would the firm produce? Explain.
Defective units that go undetected into final assemblies cost $22 each to replace. An inspection process, which would detect and remove all defectives, can be established to test se units.
Why can re be multiple steady states for a given. What is maximum decit compatible with a steady state.
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launching services to commercial firms.
Elucidate why is private property, and the protection of property rights, so critical to the success of the market system.
discuss the major types of financial intermediaries in the U.S. and illustrate the differences in the way assets and liabilities are recorded on their balance sheets
Explain how would we measure the cost of the project to determine whether it is worth undertaking.
Suppose that the learning effect coefficient in the production of wrist watches is -0.2. If the average cost of producing the first watch is $100, what will be the average cost of producing the 40 th watch?
Illustrate the marginal revenue curve that corresponds to positive marginal revenue. Line segments will automatically connect the points.
Show that a specific tax of $3.70/unit generates the same revenue as a 20% ad valorem tax
Suppose that a mysterious in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50%.
Analyze the economic impact of current approaches to controlling air pollution to determine which approach is the most effective. Provide support for your rationale.
Explain the economic effect of tariffs, nontariff barriers, and various forms of trade policies adopted by national governments.
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