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A firm produces two different goods, with demand given by the followingPa=100-2Qa-Qb and Pd=90-2Qb where Pa=price of good A Pb=price of good B, Qa=quantity of good A and Qb= quantity of good Bthere are 30 units of each in storage(HINT:how does this impact MC?) and management has decided to close our the product lines and produce more. determine prices and quantity in each market.
An agent for a residential real estate company has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square..
The Mineola Corporation hires a consultant to estimate the relationship between its profit and it output. The consultant reports that the relationship is f = -10 - 6Q + 5.5Q2 - 2Q3 + 0.25Q4 a. The consultant says that the firm should set Q equal..
We have three variables, Information is 2000-2005. I use OLS to Determine the model and get a standard result.
What is the size of the sampling error in this case b. What is the probability that the average wait time would be less than 80 seconds c. What is the probability that the average wait time would be more than 109 seconds d. What is the probability..
When a recession is over, do people start to immediately feel affects of an efficient economy? Use the experience of most recent recession to justify your answer.
Solve the forecast model
Does the firm have constant, increasing, or decreasing returns to scale? Why? If wages are $20,000 per person per operating period and capital units for $3,000 per unit per operating period, calculate the average cost of producing 12,000 units and..
1. Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a. 2. Explain the difference ..
A certain service can be performed satisfactorily by process R, which has a capital investment cost of $8,000, an estimated life of 10 years, no market value at the end of 10 year life, and annual net receipts (revenues-expenses) of $2,400 per yea..
Suppose the demand curve for a monopolist is QD = 500 - P and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit-maximizing output and price..
The cost of pollution (in billions of dollars) originating in the paper industry is Cp = 2P + P2. Where P is the quantity of pollutants emitted (in thousands of tons). The cost of pollution control (in billions of dollars) for this industry is Cc ..
MUA is the marginal utility of agriculture consumption and MUM is the marginal utility of manufacturing consumption. Use the condition that MUA/MUM = PA/PM, together with the fact that the total value of country's consumption must equal the total ..
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