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A perfectly competitive firm sells 50,000 units of knives at a price of $3. The firm's average cost at 50,000 units is $2.75. Calculate the firm's profit. Please verify answer twice before sending back to me the steps. I want to make sure I have the calculation steps correctly given, and the correct answer.
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statement correct? If so, why? If not, explain why not.
A basic theory of underlying macroeconomic behavior and therefore useful for making policy predictions. Briefly explain.
Under what conditions might the Justice Department approve a merger between two companies that operate in an industry with a premerger Herfindahl-Hirschman index of 2,900 if the postmerger index is expected to increase by 225.
If the number of trucks (K) decreases by 10% next year, how much will output (Q) decrease? What type of returns to scale is consistent with the above production function?
What is an example of an ethical perspective that is considered very American? What is an example of an ethical perspective from another culture that deals with a similar subject? Identify the culture and the ethical perspective. Why are the persp..
Elucidate how does N the number of firms in the market, affect each firms Demand curve. Explain why.
HoosierMaker expects to garner revenue of $9.5 million each year and spend $1.3 million a year in costs, over the next 7 years. What is the future worth of this investment if the companies' rate of return is 16% per year?
The Newspaper reported that insurgents in Saudi Arabia had taken over a major oil refinery. What would you predict would happen to the average price and quantity exchanged in the market for gasoline in Saudi Arabia?
Use the Keynesian-cross model to illustrate graphically the impact of an increase in taxes on the equilibrium level of income.
During the course of one day, airlines cut fares on nearly 35,881 routes. (a) Briefly explain why airlines might be more likely to match price cuts than price increases. (b) Which theory of oligopolistic behavior does the above situation most res..
Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..
The three Cs in the 3C strategy for persuasive writing are
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