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Q. Assume a profit maximizing firm's short-run cost is TC = 700 + 60Q. If its demand curve is P = 300 - 15Q, what should it do in the short run?
Q. 1. Using appropriate diagrams and notations, carefully explain the relationship between elasticity, total revenue and marginal revenue.
2.Discuss the uses of elasticity of demand
illustrates the likely effect on the marketplace for eggs. Indicate in each case the impact on equilibrium cost also equilibrium quantity.
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
Conclude how the abatement levels should be reallocated across the 2 industries to minimize costs.
The local community has instituted a price ceiling of $480. Does consumer surplus increase due to this price ceiling. Does social welfare increase as a result of the price ceiling
What is the equivalent annual worth of costs for the website over a total of 6 years at an interest rate of 12% per year.
Calculation of the unemployment rate and part time workers who would prefer to work full time.
Open a pizza restaurant and is considering either selling the bonds and using the 100,000 to start his restaurant or borrowing the 100,000 from a bank which would charge him an annual interest rate of 7 percent.
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Illustrate what has presidents immediately under the principles of immediate wants of the nation also mandate from the people.
If the taxes are set so that each resident shares the cost evenly (a=b=c), how so many paths will get built.
In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances.
Compare and contrast the Nielsen rating or a given episode on a TV series with the comments posted about the same show on TOP.
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