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a. Given the following chart and information fill in the missing values. Please write on a separate sheet. Note that r = $50 and w = $100. Use a price of $5.50. K Labor Total Product (Q) Marginal Product of Labor Average product of Labor Average product of Capital VMPL 2 0 0 2 1 25 2 2 65 2 3 120 2 4 160 2 5 185 2 6 195 2 7 200 b. Which input is variable? Fixed? How do you know? c. How many of the variable input should the firm use to maximize profits? Please verify. Note that in order to do this you need to use costs. d. What are the max profits the firm can earn if it sells the Q for $5.50 at market? e. Please graph both the total , average, and marginal product curves over the ranges of Q provided. Explain the shape of the curves and how the marginal curve is related to the total curve.
Calculate marginal cost and marginal revenue for each level of output when market price and what is the firm's profit-maximizing level of output
This price reduction would also increase sales to 220,000 units during the relevant years. a) Make the decision tree. b) What is the optimal strategy for the monopolist?
Discuss the differences between unemployment and underemployment and give examples of each. Include in your contribution the differences between fiscal and monetary policy and how each would be used to reduce high levels of unemployment.
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an exa..
You have been hired as a consultant by your mayor to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
which would be least likely to cause the production possibilities curve to shift to the right a. an increase in the labor force b. improved methods of production c. an increase in the eduction and training of the labor force d. a decrease in unemploy..
Assume that the consumption schedule for a private open economy is such that consumption C = 50 + 0.8 Y . Assume further that planned investment I g and net exports X n are independent of the level of real GDP and constant
Describe a market situation in which the operating company faces economic difficulties and need to cut costs. What cost cutting strategies may the operating company employ to remain profitable?
Suppose that aggregate demand increases such that the amount of real output demanded rises by $7 billion at each price level. By what percentage will the price level increase? Will this inflation be demand-pull inflation or will it be cost-push infla..
Compute the MIRR we need a finance rate and an reinvestment rate and finance and a reinvestment rate are needed to compute the return on invested capital (RIC) for non-simple cash flows.
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Kellogg Company (you know them as Kellogg's, makers of Rice Krispies, Corn Flakes, and a variety of other cold cereal products) celebrated its 100th anniversary a few years ago in 2006. As with many companies, it has attempted to expand internatio..
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