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A firm in a perfectly competitive market will produce no output in the short run if the price is below $20 but will produce if the price is above $20. The smallest quantity they will produce in the short run is 6. Firms will earn 0 economic profits if the price is $447.5 and its profit maximizing quantity is 21. The firm’s fixed cost is $6615. Assume the good can be produced in continuous quantities.
Draw a picture of the MC, ATC, and AVC for this firm specifically labeling the values for each of these costs at q = 21 and q = 6. Round any decimal answers to 1 place. The diagram does not need to be to scale but needs the curves to exhibit the correct qualities.
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What happens to Bond prices, quantities and interest rates if (Make sure to include the supply and demand graph for bonds for each question :
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Computer Colleagues, Inc. wants its name on the new computer engineering building planned for Somewhere University. For naming rights, the university requires that 60% of the first cost of the building and 20% of the maintenance costs be covered by a..
If average worker produces $70,000 of GDP, by how much will GDP increase if re are 140 million labour force participants and unemployment rate drops from 5.2 to 4.5 percent.
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