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Suppose that the firm's initial demand curve had been P = $5,000 - 50Q and that it shifted inward to P = $4,000 - 50Q. Assume MC = $500. How would this shift in demand affect the firm's profits?
Discuss the direction of change in price, quantity, and average total cost that you expect. Then check your answer by calculating price, quantity, and profit. You can refer back to graphical problems you solved in this news analysis to observe the change in average total cost.
Assume you own the remodeling company. You're currently earning short-run profits. The home remodeling industry is an increasing cost industry. In the long run, what do you expect will happen to:
Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and the price in the market for pizza.
Explain what he has done wrong on each graph and what assumption of preferences is violated by each particular graph.
Describe the Internal Environment, specifically the history and development of your organization-- its origins, path of development, competitive environment, inner structure.
Find all Nash equilibria in pure strategies and what is the Pareto Optimal outcome under collusion? Show that this outcome is not sustainable.
With use of a graph, explain how these two programs affect cigarette consumption and explain the combined effect of these two programs on the price of cigarettes.
Find a newspaper or magazine article that highlights when the political process works poorly (not too hard). Write a 1-page paper on the economic reasons for this performance
The price of good 1 (nuts) is $2 and the price of good 2 (berries) is $1. How many units of nuts will Anthony demand?
The market is perfectly competitive which constant input prices and each firm has the same cost structure from the table listed below;
What circumstances would the industry short run labour demand curve have the same elasticity as that of a representative firm in this industry? which of the four laws of derived demand are important here? explain your reasoning.
Bridget has a limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
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