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A bicycle-repair shop charges the competitive market price of $10 per bike repaired. The firm's shortrun total cost is given by STC(Q) = Q2 /2, and the associated marginal cost curve is SMC(Q) = Q.
a) What quantity should the firm produce if it wants to maximize its profit?
b) Draw the shop's total revenue and total cost curves, and graph the total profit function on the same diagram. Using your graph, state (approximately) the profit-maximizing quantity in each case
Of the four sources of funding listed above, which sources are likely to increase/decrease Again, be sure to distinguish between a change in dollar terms versus a change in its contribution to overall funding/revenue.
You are the manager of a large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months. Following are the average negotiated prices for each month and quantities sold ..
Go Hard has total fixed costs of $2,160 per day. The firm manufactures Go Hard advice kits. The kits have a short-run average variable cost of $48, and all of them can be sold for $66 each. Assuming constant per unit variable costs in the relevant..
In the context of this neoclassical growth model, can a country have too much saving?
Does total investment (public and private) increase or decrease in this case?
Use the information in the following table, which summarizes the payoffs (i.e., profit) to two firms that must decide between an average Firm 2 Average Quality High Quality Firm 1 Average Quality 600, 600 400, 1100High Quality 1100, 400 900, 900 a. ..
The cost to invest in either option is the same today. Both options will provide you with $20,000 of income. Option A pays five annual payments starting with $8,000 the first year followed by four annual payments of $3,000 each.
Abby consumes only apples. In year 1, red apples cost 1$ each, green apples 2$ each, and Abby buys ten red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples.
What implications does it have for whether you can beat the market? Does it imply that all stocks must yield the same expected return?
Use the sales data given below to determine a)the least squares trend line b)the predicted value for 2002 sales. c) the MAD d) the unadjusted forecasting MSE sales 1995 130 1996 140 1997 152 1998 160 1999 169
A competitive industry currently consists of N= 10 identical firms. An individual firm's total cost function is given by TC = 0.5q2 + 200. Market demand is given by Q = 3000-5P. In the short run, how much will each firm produce in the equilibrium
Under each method, how much lower is the standard of living in Mexico than in the United States? Does the choice of method make a difference?
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