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Leila runs a firm in a perfectly competitive market with many other firms. Her short-run cost function is given by C(q) = q2 + 25q + 144 such that MC(q) = 2q + 25. Answer the following questions.
(a) How much is Leila’s fixed cost of running the firm?
(b) If the market price is $75, how much profit will Leila make?
(c) How much output will Leila produce in the long-run? What will the market price be in the long-run?
Refferring to the 10-yer historical period 1990 to 2000,discuss an example of a change in autonomous spending. Research a government policy implemented during that time and discuss the multiplier effect it had on the economy. Make sure your work is c..
A tire production company has the fixed costs equal $4,000,000 and the variable cost of production of one tire is $30. Each tire is sold for $70 per piece. what is the break-even production output? how many tires should the company produce to generat..
The recent drop in the price of gasoline and oil has had several effects on the US economy. What pricing model we have considered best represents the market for oil? Defend your answer. Use your model to explain how a moratorium on fracking in the US..
Suppose that the participation variable, voucher, is completely randomized in the sense that it is independent of both observed and unobserved factors that can affect the test score.
Clear Water Co. has a down-hole well auger that was purchased 3 years ago for $45,000. It has been depreciated over the three years as a MACRS-GDS 5-year property. It has an estimating remaining life of 7 years. O&M costs are $20,000 per year. Clearl..
Compare and contrast direct finance and indirect finance which is more likely to have a larger share of the total financial market in a mature economy and the young economy why.
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1.00 per poster. What is her AFC per poster if she prints 10,000 posters? What is her ATC per poster if she prints 1,000..
What happens to total revenue if the price of sugar rises from $3 to $7 per kilogram.
no government transfer payments, taxes of $210 million merits, a budget surplus of $60 billion merits, and investment of $100 billion merits. Illustrate what were its consumption and government expenditures on goods and services
EC333, Spring 2016, What is the function for average total cost for firm 1? What is the function for average variable cost? Suppose firm 2 picks a quantity of Q2=20. If firm 1 picks a quantity of Q1=33, is firm 1 pricing above or below marginal cost
Suppose that aggregate planned expenditure increases by $0.75 trillion for each $1 trillion increase in real GDP. Compare the shift of the AD curve with the $1 trillion increase in investment. Explain the magnitude of the shift of the AD curve.
Read Chris Tilly, “Shaking the Invisible Hand” (Real World Micro, article 1.2). What is the “Invisible Hand” theory? What are the political implications? List some of the assumptions made by economists who believe in the “invisible hand” and oppose g..
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