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If Will’s Print Shop competes in a perfectly competitive market and he charges $10 per printing job, what is the marginal revenue of his 3rd print job?
a) $3.33
b) $10.00
c) $30.00
d) Between $10.00 and $30.00
If Mara’s Puzzle Factory is operating at a quantity in which the marginal revenue from the last puzzle produced is $20, marginal cost is $15, and average total cost is $10. What should Mara do to maximize profits?
a) Leave her production exactly where it is because she is clearly earning a profit.
b) Decrease her production of puzzles.
c) Increase her production of puzzles.
d) Shut down her business because it is losing money.
Federal and state governments will reduce deficit spending by 1.8 trillion this fiscal year. This action will cause which of the following to occur?
Annual savings due to energy efficiency thermo well have a most likely value of $30,000. The most optimistic value is $40,000 with a probability of 0.2 and a most pessimistic value of $20,000 at 0.3. The First Cost is $150,000, the interest rate 10%,..
Consider a model of three-period – lived individuals. Suppose the two-period real rate of return on capital is X = 1. 44, the rate of population growth is n = 1. 1, and the rate of fiat money creation is z = 1. 2. Find the following net rate for both..
q1. the price of good is 1.20 per unit also annual demand is 800000 units. market research indicates that an increase
HI5003 Economics for Business. Scarce resources- which resource and in which country/industry are seen as scarce and what is being done in the industry or country. What substitutes have been used to overcome this problem
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Illustrate what relationship exists and how might a business manager use this information to increase their profits.
R/C Aero Specialties produces unmanned aerial vehicles (UAVs), or drones, for commercial and recreational uses. The company has updated its design to compete with Fuji Enterprises, but its production costs for this new model require a retail price th..
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
Discuss the short and the long-run impacts of the following scenarios on the interest rate (r) price level (P), and national income (Y) level, consumption, investment and real money balances, using the IS-LM model (diagram). Discuss the short and lon..
Suppose a monopolist manufacturer sells his products through a monopolist retailer. The marginal cost of production is c = 5. Assume that retail demand is Q(p,s) = s(10-p)100, where s is retailer's level of effort to sell the product. The cost..
According to the Solow growth model, if a country is above its steady state level of output, we would expect that next year it would be: According to the Solow growth model, if a country is below its steady state level of output, we would expect that..
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