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Bravo Pork Rinds Case
Assume you are the plant manager for Bravo Pork Rinds, which produces pork products in a market that approximates perfect competition. Due to a slow economy, business has been slow and you are losing money every month. The owners have asked you whether to continue operations or to shut down at least until the economy improves. You have the following information available:
Marginal Revenue (MR) = $105Total Cost (TC) = $1,200 + 135Q - 0.6Q2Marginal Cost (MC) = 135 - Q
As the plant manager, should you recommend to the owners that the plant be shut down for a while? Justify your answer using at least two techniques and presenting the information graphically.
For the argument in favor of state subsidies, draw (by hand is OK, but make sure it's neat) a supply and demand diagram that shows the positive externality, the effect of the subsidy, the market outcome, and the socially optimal outcome.
For each hour of work, the employer deducts $1 and sends the money to the city government. The initial wage (Before the tax) is $10, and total employment is 20,000 hours per day. Use a graph to show the effect of the tax on the equilibrium wage an..
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day
Consider the following infinitely repeated model between two firms. Each period, the firms earn profits of 10 if they successfully collude. If a firm deviates from the agreement, it earns 15 in the period in which it cheats. In each period that th..
The welfare of consumers, producers, and society (the winners and losers) before and after the policy The distribution of costs and benefits Does government. analyze the effects of the following government policies on the market equilibrium.
The subsequent table gives total output or total product as a function of labor units used. Does the table indicate a situation of diminishing returns.
4. Sam consumes green eggs and ham. Ham and green eggs are both normal goods.
Suppose that the production function were . Assume that A = 100,000, and that the current level of the capital stock is 10,000.
The market demand for a public good can be determined by A)adding up how much each consumer is willing to pay for each unit of the public good. B) Adding up how much each citizen expects to consume at each possible price C) Adding up the total pri..
An increase in credit card fees causes people to use credit cards less often for transactions and demand more money. (a) Using a correctly labeled graph of the money market, show how the nominal interest rate will be affected.
Find out the equilibrium market price. Find out the profits of the leader and the follower
Assume that Japanese and U.S automakers produce on identical isoquats. Wages are higher in Japan than in the United States.
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