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Suppose a company owns two plants, plant A and plant B. The total cost functions are as follows:
Plant A: TCA = 5qA + 0.1qA2
Plant B: TCB = 5qB + 0.2qB2
1. Suppose that the company is a price taker and the market price is $10. How many units will each plant produce?
Explain why does the burden of sales tax fall completely on consumer when the price elasticity of demand is perfectly inelastic; the seller when perfectly elastic. and the prefect inelastic supply and perfectly elastic supply.
Assume your bank increase its minimum-balance requirement for free checking on checking accounts by $500. You take $500 out of your passbook savings account
Discuss the effects of innovation and technology on the expenses of production and how does technology affect market structure and real world competition?
We are in the midst of a slow growing economy in the aftermath of a severe recession. During the economic downturn many businesses laid off workers very quickly once they forecast their sales were dropping. What is the economic reasons behind cutt..
Which of the following is a private transfer payment Unemployment benefits received by newly laid-off workers The sale of used clothing at a thrift store The Social Security benefits sent to a retired worker A check for $250 sent by a parent to a ..
Assume we decline to sell goods to any country that decrease or halted its exports to us. Who would profit and who would lose from such retaliation?
Holding other factors constant, will the quantity of investment spending increase more in the closed economy or in the small open economy Explain. Assume prices are flexible and that factors of production are fully employed in both economies.
If every $1,000 increase in the real price of homes adds 5 cents to annual consumer spending (the “wealth effect”), by how much did consumption decline when home prices fell by $2 trillion in 2006–8?
Find the equilibrium level of GDP. Next, find the multipliers for government purchases and for fixed taxes. If full employment comes at Y 5 1,800, what are some policies that would move GDP to that level?
In April 2011, the money supply, as measured by M1, was approximately $1,917 billion. The monetary base was approximately $2,494 billion.
Suppose the marginal expense of hiring another worker is $150 and the marginal expense of hiring current workers for an extra hour is $10.
The demand for coffee cakes is less than or equal to 4. Five pounds of flour and 2 pounds of sugar are required to make a pan of coffee cakes, and 5 pounds of flour and 4 pounds of sugar are required to make a pan of Danish pastries. A pan of coff..
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