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A firm uses a single plant with costs C = 160 + 16Q + .1Q2 and faces the price equation
P = 96 - .4Q.
a) Find the firms profit maximizing price and quantity. What is its profit?
b) The firms production manager claims that the firms average cost of production is minimized at an output of 40 units. Furthermore, she claims that 40 units is the firm\'s profit-maximizing level of output. Explain whether these claims are correct.
c) Could the firm increase its profit by using a second plant (with costs identical to the first) to produce the output in part A? Explain.
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
Essay on Market imperfection associated with negative externalities.
As the manager of monopoly, you face potential government regulation. Findout the monopoly price and output.
Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
Consider the table below the supply schedules for three competitive firms, each producing honey. These three firms make up the overall industry-Calculate the total industry supply at each price and fill in the table.
According to economist, if savings equal $5 trillion and spending equals $100 trillion, what will investment equal?
Taiwan Electronics produces 3 models of the CB radios, A, B, and C-Employ the transportation model to find out the best production schedule.
All economics textbooks give examples that show diminishing marginal utility as consumption rises-However, it could be argued that a rational buyer should never experience negative marginal utility. Why?
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P x = $5, P y = $10, X = 20, and M = 500?
A firm uses two inputs, unskilled labor (L) and capital (K) to produce its product. The wage rate for one unit of labor is $5, while units of capital cost $20.
Show that the government can achieve the social optimum by setting the correct tax prices a, b, and c. What prices should it set?
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