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Suppose there are n identical firms in a market.Each firm has fixed cost equal to 392, and variable cost given by VC = 2q2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC = 4q.Also, the market demand is given by
P = 1148- 3Q, where Q is the total amount of the good produced by all of the firms combined.Therefore, Q = n*q.
a) How much output will each of them produce?
b) What will be the market price?
c) How many firms will there be in long run equilibrium?
Assume that the benefits and costs of infrastructure improvements are for one time only - i.e., ignore all long run implications. What are benefits and costs of infrastructure improvements.
Solve for the equilibrium interest rate. Solve for equilibrium value of consumption and investment.
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The City library in Amritsar has several private study rooms which are freely available to clients.
How many DVD's will she have to sell to keep the store open for an extra hour to make profit, if each DVD is $12.
Compute the deadweight loss if the U.S. imposes a tariff of 25 cents per bottle of imported wine.
Illustrate what recording fee would you advise Johnny to demand from the record company.
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You decide in May that the coming summer's corn crop will be much larger and the fall corn price consequently much lower than most people expect. To act on your beliefs, should you buy or should you sell December con futures?
At Illustrate what level of output does AVC reach its minimum value. Illustrate what is minimum value of AVC at its minimum.
illustrate the effects of capital formation by comparing the production possiblility curves at the present time and ten years in the future.
For a product, at a price of $3, quantity demanded is 60 units and at a price of $5 quantity demanded is 40 units. Using midpoint formula, calculate value of price elasticity of demand.
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