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Suppose you run a manufacturing business that is involved in manufacturing and selling a single product. The fixed cost to run the business is $15,000 and the constant marginal cost is $7.50 per unit. The sale price of your product is $15 per unit.
(a) Find the revenue function, total cost function and profit function. (Let x be the output level)
(b) Using the functions in part (a), find the breakeven point.
(c) State the condition(s) under which you can make a profit
What is the unregulated competitive equilibrium. What is the unregulated monopoly equilibrium.
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Changes in the macroenvironment affect individual firms and industry through the microeconomic factors of demand, production, cost and profitability.
Di9scuss what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminate Brazil's premium coffee crop, what will happen to the price of the premium coffee.
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demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?
The graph below shows the demand and supply curves of the market for gasoline as well as the wedge that the tax creates. Explain how much is the total tax revenue.
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Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
What is the average time period for the introduction of a new drug into market? One act passed by the federal government aimed at reducing the monopoly power of patented drugs was. Which drug is likely to be the most profitable for its producer (in t..
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