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As a manager of a firm you find the marginal cost of the firm to be $10 and the fixed cost $100. For the range of prices that you are planning to charge, own price elasticity of demand is believed to be –1.25. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.
explain what the authors mean by idealism and realism in international politics.characterize the differences between
For a firm in a perfectly competitive market that faces a market price of $5/unit for its output, draw a diagram showing a U-shaped long run Average Cost curve and the related Marginal Cost curve so that, in the situation you show
Does a monopolistic competitor produce too much or too little output compared to the most efficient level? What practical considerations make it difficult for policymakers to solve this problem?
assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. what
Are people helped more if production results in a loss than if it leads to profit? Is there a conflict between production for people and production for profit?
as prices increase should health economists advocate giving something up opportunity coststrade-offs?as the quantity of
you are given the following scenarios for considerationscenario 1 assume that the government imposed a price ceiling on
Howard Bowen is a large-scale cotton farmer. The land and machinery he owns has a current market value of $4 million. Bowen owes his local bank $3 million. Last year Bowen sold $5 million worth of cotton. His variable operating costs were $4.5..
you are the chief economic advisor of the president of dreamland. right now the country has unemployment of 7.7 . the
roshima is researching universities where she could study for her mba degree. she is considering 3 major attributes
When investment occurs in developing nations, Adverse selection inhibits the financing of global growth because
If the price of a physician visit is $75 and individual A purchases 10 visits, individual B purchases 12 visits, individual C purchases 14 visits and individual D purchases 0 visits. What is the market demand for the physician visits?
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