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A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal cost is given by MC=6000, so TC=50000+6000Q. Calculate the profit-maximizing quantity and price.
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
What will happen to Y (GDP), r (real interest rate), P(price level), and I(investment), in the short run ?The answer should indicate will these values increase or decrease in the short run.
suppose you have the following simultaneous equations model:which are the endogenous variables (y & x3) and the exogenous (Z, X2) Im lost as to what X1 is because it appears on both equations? also which equation is identified or not identified or ..
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your uncle repays a 100 loan from goliath national bank by writing a 100 check from his gnb checking account. use
problem 1 in a study relating college grade point average to time spent in various activities students are asked how
farida has us 55 to spend on apples and oranges. given the information in the following table is farida maximizing
Evaluate the Clean Air Act and determine if it has been effective from an economic standpoint. Explain your reasoning. Based on your evaluation of the Clean Air Act and additional efforts to address pollution, make policy recommendations that woul..
Suppose you are studying the market for shoes. Two events take place simultaneously. First, price of leather decreases, and second, consumers' income increases. What will happen to the equilibrium price and equilibrium quantity of shoes
The graph shows a typical competitive market in equilibrium. Private costs and benefits are reflected in the supply and demand curves labeled D and S, respectively. The price is $50 and 40 units are sold each period. To illustrate the effects of an e..
Why does an initial $400 billion annual decrease in consumption spending make income fall by more than $400 billion per year. Explain why an initial change in planned aggregate expenditure results in a much larger change in equlibrium income.
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