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A firm has the exogenous cost function C(Q) = 354Q-30Q^2 + Q^3.
(a) Compute the marginal cost function.
(b) Use calculus to find the value of Q at which marginal cost is minimized.
(c) Compute the average cost function.
(d) Use calculus to find the value of Q at which average cost is minimized.
(e) Does this cost function satisfy the three assumptions made in class concerning the cost function?
What are the characteristics of a PC firm? Using Hot Dogs, Graph the market and the individual supply, demand and costs for Hot dogs side by side. Make sure to include the S.R. and L.R profits.
In a country 1/3 of all females born die in infancy, 1/3 die at age 23, and 1/3 live to age 65. Women bear one child at age 17, one child at age 21, one child at age 25, and one child at age 28. One- half of children are girls. The net rate of reprod..
Lionfish is an aquatic invasive species in the southeastern U.S. and the Caribbean. Current removal policies focus on harvesting the lion fish for human consumption. However, a fishing license is required to fish in most southern states
Two Division managers at King Size Manufacturing have been in a long discussion with top management about allocation of capital spending over the next three years. The current plan up for approval calls for the bulk of capital expenditures to go to D..
20 years ago John invested $10,000 in a mutual fund. The value of his investment declined by 19% during the first year and then declined another 30% during the second year. 18 more years have passed, and john's cumulative return on the 20 year period..
Write a one to two page response on an issue that interests you within the topics of South Asian geography, climate, prehistory (including the Indus Valley Civilization), or Hinduism. Discuss your opinions and impressions in a scholarly fashion and u..
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
An increase in the supply of money will lead to a(n) ____ in equilibrium real GDP and a(n) _____ in equilibrium price level. To close an inflationary gap using monetary policy, the Federal Reserve should _____ the money supply to _____ investment and..
Compare the marginal benefits and the marginal costs associated with your purchasing decision. Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
Elucidate the evidence that supports these recommendations and how your recommendations might need to be modified for the alternative economic futures
You think that you need $60,000/year to live on when you retire. Assuming an annual inflation of 3.4%, how much would you need in actual dollars per year 40 years from now to have the same purchasing capability?
What happens if the price floor is above the equilibrium? and what happens when price ceiling is below the equilibrium?
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