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Plot the PPC of a nation with the following data.Combination Healthcare All othergoodsA 0 100 B 25 90C 50 70D 75 40E 100 0
A. Calculate the marginal opportunity cost of eachcombination.
B. What is the opportunity cost of combination C?
C. Suppose a second nation has the following data. Plot thePPC, and then determine which nation has the comparative advantagein which activity. Show whether the two nations can gain fromspecialization and trade.
Quantity.Price .Total Revenue. Marginal Revenue 0 55 10 50 20 45 30 40 40 35 50 30 Please find TR and MR
In a competitive market, the industry demand and supply curves are P=200-0.2×Qd and P=100+0.3×Qs, respectively. Can you find an ad-valorem tax that would generate $3200 of revenues for the government
Now suppose the firm's total and marginal cost are as follows: TC = 6800 + 20 Q (The cost function includes advertising costs.) MC = 20 Assuming the number of ads remains at 25, what price should STS charge to maximize its profit
Calculate the marginal product for each additional worker Each unit of output sells for $10. Calculate the value of the marginal product for each worker. Graph the firm's demand schedule.
Suppose we have a single-variable input production function such a Q=f(L), where L is the number of workers and Q the quantity of output per day. Workers are paid a flat salary of $200 per day.
Suppose a firm produces its output in two different plants. Production costs at plant 1 are given by C1 = 4(Q1)2, where Q1 is the amount of production at plant 1. The production costs at plant 2 are given by C2 = 2(Q2)2
The scores of students on the ACT college entrance examination in a recent year had a normal distribution with a mean of 18.6 and a standard deviation of 5.9. A simple random sample of 60 students who took the exam is selected for study
However, when the commissioner granted the 10 percent increase, revenues increased by only about 5 percent. What can you infer about the elasticity of demand for taxicab rides. What were taxicab drivers assuming about the elasticity of demand.
A coal mining company has a supply curve of W=48 + (72/2000)L and Demand of P= 60- (9/4000)Q. coal miners produce 8 tons of coal a day. they max profit. How many workers will be hired.
A manufacturing company leases a building for $100,000 per year for its manufacturing facilities. In addition, the machinery in this building is being paid for in installments of $20,000 per year. Each unit of the product produced can be sold for ..
Suppose the government imposes a 25-percent tax on accounting profits. This tax is only levied if a firm is earning positive accounting profits. What will your after-tax accounting profit be in the low-revenue case In the high-revenue case.
Queen Elizabeth has decided to auction off the crown jewels, and there are two bidders: Sultan Hassanal Bolkiah of Brunei and Sheikh Zayed Bin Sultan Al Nahyan of Abu Dhabi. The auction format is as follows: The Sultan and the Sheikh simultaneousl..
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