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Total revenue is defined as the product of quantity of an item sold and it price. The price of an item is given by:
The total cost incurred is the sum of the fixed costs and operating costs. The latter increases as more items of a product are manufactured hence the total cost is given by:
For a given product, it is found that the number of item s sold corresponding to maximum profit is 25. Calculate the number of items sold corresponding to the break even point.
q. the credit card market has grown increasingly competitive. to maintain customer satisfaction banks that issue credit
If we think about a model over time (dynamic), would depletion (production) from a non-renewable resource, we wouldn't have a traditional, static supply curve that is completely based on price. Would the classic demand curve still apply?
When the price of oranges increases from $1.00 per pound to $1.50 per pound, quantity demanded falls from 500 pounds to 400 pounds. Calculate the price elasticity of demand. Is the demand for oranges price elastic, inelastic, or unit elastic? Explain..
Explain the various levels of economic integration. What level of integration has the European Union achieved? How will plans to create fiscal union change the relationship between member countries?
A couple operate a pet sitting service on the side. They want to add a daily service of a photo placed online for pet owners who are travelling. The required equipment is expected to cost $636 to purchase and $16 per month to operate. Revenues are ex..
A number macroeconomic variables decline during recessions. One of these variables is the GDP. What other variables, besides real GDP, tend to decline during recessions? Given the definition of real GDP and its components, explain the declines in the..
Calculate the present worth value of 9 annual payments of $800 made at the end of each year knowing that the interest rate is 8%
Explain why is presidential power "conditional" - that is, why is affected so substantially by circumstances, the makeup of congress, and popular support.
Semiconductor manufacturing involves taking a flat disc of silicon, called a wafer, and depositing many layers of material on top of it. Each layer has a pattern on it that, upon completion, defines the electrical circuits of the finished microproces..
Assume which the present first generation consists of 1 million people, half of whom are women. If the total fertility rate.
When calculating the total social marginal benefit of providing an additional unit of a pure public good, why is correct to simply add up the marginal benefit to each household of that public good?
Listed below are the weekly sales from the household department at a local discount store: $35,000, $46,000, $28,000, $35,000, $68,000, and $52,000. Find the Arithmetic Mean, Median, and Mode.
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