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Instructions. If you are asked to find a relationship, you may use algebra and/or plot at least two points and draw the curve. In all cases please be sure to explain how you got your answer and the reasoning justifying your approach. If you do not have enough information to answer a question, please describe what information you need and exactly how you would use it. Unless otherwise specified, please assume that all units are infinitely divisible. If you need an interest rate, explain how such a rate would be chosen in the context and use 10%.
The hypothetical cost data for a competitive gold miner was given by:
Weekly output in ounces Weekly total cost
0 570
1 810
2 1000
3 1240
4 1530
5 1920
6 2410
7 3000
8 3690
9 4480
The price at which the miner sold is $600 per ounce.
A) Please make a table in the above form but showing FC (fixed cost), VC (variable cost), AC (average cost), MC (marginal cost), MR (marginal revenue) and find the profit maximizing level of output.
B) In the general context of this question what would be the supply curve of the firm.
Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.
Compare and contrast economic development strategies based on import substitutions versus export promotion.
Margin requirements on such a spread are often less than y would be if two contracts were considered separately. Why? Prices on two intra-market futures contracts tend to move together because similar fundamentals drive prices in both contract mar..
q.you work as a sales representative for a major pharmaceutical company. most of your time is spent driving to
EXplain how much output will each firm produce in the Stackelberg Equilibrium. What will be the market price. How much profit does each firm make.
What is the change in the total amount that J & R National Bank can loan out? Explain.ii. What is the total amount that the bank can create? Explain.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Comprehension and understanding - Critical thinking and analysis and understanding of the Law of Torts
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable.
Explain how are presidential election outcomes related to the performance of the economy.
determine either the demand for student employees by the restaurant would increase, decrease, or remain unchanged.
Explain at the current price, eight units are demanded each period. If the objective is to increase total revenue, should the price be increased or decreased.
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