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2. a) Explain how the accountant and economist view cost. (20 MARKS) . b) Quick Meal is a fast food outlet in Mona that sells box lunches for $120 each. Its total cost function is TC = 80,000 + 20Q + 0.02Q2 (i) Should the owners close the restaurant? Explain! (ii) What is the profit /loss of the business?
1. why do most cities in the united states now have more radios but fewer radio repair shops than they did in 1960?2.
you are the owner of a small bread factory and are thinking of lowering costs and expanding. your small-business
Jason has been making equal annual payments of $7,500 to repay a college loan. He has just made an annual payment and now wants to pay off the rest of the loan immediately.
apple inc. has made a rare fashion miscalculation they have produced 8000 neon green ipods but have sold almost none.
Sue loves ice cream but cannot stand frozen-yogurt desserts. In contrast, Carole likes both foods and can hardly tell the difference between the two. Who will have the more elastic demand for yogurt?
Suppose that Apple must pay a royalty on each mobile device that it produces. How should Apple adjust its production and price in response to the royalty?
the demand curve for a product is given by qdx 1000 - 2px .02pz where pz 400. hintnbsp if youre not comfortable with
the demand for haddock has been estimated aslog q ab log pc log i d log pmwhere q quantity of haddock sold in new
Returning to the duopoly of part (b),suppose Firm 1 abides by the agreement but Firm 2 cheats by increasing production. How many widgets will Firm 2 produce? What will be each firm"s profits?
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
corporations often use different costs of capital for different operating divisions. using an example calculate the
Discuss why will voluntary actions, undertaken at individual level, be unlikely to bring about significant decrease in greenhouse gases such as CO(2)?
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