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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
Many colleges sell special cards that students can use to purchase everything from textbooks or meals in the cafeteria to use of washing machines in the dorm. Students deposit money in their cards; as they use their cards for purchases.
suppose south korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other si..
1. assume you are a policymaker in washington dc. lobbyists for the preschoolers of america have put pressure on
Two major areas of health care reform involve universal access and containing costs. List the specific options discussed in your text that work toward these reforms.
How much effort do the students exert in the Nash equilibrium of the game introduced by Amalia and what value for the cake induces the students to exert the efficient effort level
A hospital would replace five personnel that currently cover three shifts per day. 365 days per year. Each person earns $35,000 per year. Company-paid benefits and overhead are 45% of wages. Money costs 8% after income taxes.
Suppose that perfectly competitive firm faces the market price (P) $5 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,500 units.
two consumers justin and cindy of the same product have the following demand curves q1 500 - 10 p and q2 500 - 20 p.
Participating in the market for a product are 12 consumers, each of whom will buy at most one unit of the good, and 11 suppliers, each of whom will sell at most one unit of the good. The distribution of buyer values is as follows:
the economy consists of a single individual who represents a large number of homogenous individuals. this
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