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Suppose there are 200 identical firms in a perfect competitive industry. Moreover, assume that each firm has the following short run cost function: C(q) = 0.5q2 + 5q + 20.a) Compute the short-run supply curve for a single firm, expressing q as a function the price P. b) Calculate the short-run industry supply curve. c) Now assume that the market demand is given by QD = 1000 – 50P. Compute the short-run equilibrium price and its corresponding quantity.
Supposed objective function is changed to, do you need to re-graph feasible region of this LP. Why. What is solution for new LP. Is it unique.
You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your No Haggle sales policy. Last year, your dealership earned record profits of $1.5 million. What price should you charge for a midsized automobi..
Do you think that the developing countries should be given special, favorable treatment in multilateral trade negotiations? Why or why not? Has such treatment been given to developing countries in the past? Explain.
Which of the following is an implicit cost?
You are manager of a small pharmaceutical company that received a patent on a drug three years ago. Despite strongest sales(125milion last year) and a low marginal cost of producing the product ($0.25 per pill) your company has yet to show a profit f..
In developing a vaccine for the SARS virus a pharmaceutical company incurs a very high fixed cost. The marginal cost of delivering the vaccine to patients, however, is negligible (consider it to be equal to zero).
Assume that the company's is considering a merger. The possible merger currently faces some threats and that the industry decides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new sc..
More than 85% of McDonald's restaurants around the world are owned by independent franchisees.
You decide to open an individual retirement account (IRA) at your local bank that pays 8 percent/year compounded annually. At the end of each of the next 40 years, you will deposit $4000 into the account. Three years after your last deposit, you will..
q.south korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. the u.s. can
Each firm can monitor the other's price very closely and can respond instantly
q1. select two products or services with which you are familiar - one produced in the u.s. and the other produced in
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