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At a price of $24, should a perfectly competitive firm operate or shut down in a the short run if its TC is given as:
TC = 35 + 40Q - 0.4Q^2
Utilize the TC curve given below and calculate the output at the shut down point.
TC=400 + 100Q - 3Q^2 + 0.04Q^3
Demand and supply schedules
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
Speedy delivery is the package carrier which serves the Midwest It specializes in the delivery of auto parts to independent auto repair shops. It competes against very large firms like FedEx, UPS, and US Postal.
How much total utility does the consumer receive
Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest).
Assume that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
A perfectly competitive firm encounters the following monthly costs and price. What is the fixed cost of this firm? What is the optimal output of this firm?
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
Econ 301 Assignment, Find at least three other variables that may affect the return of equity of your choice
An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the information given.
The question is that if two firms in the Cornout market merge into one firm, what would the merger result in? how much of marginal cost would prevail in the market, etc are answered in a detailed in manner in the solution.
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