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Suppose a firm has two factories, with marginal costs given by
Factory #1: MC1 = 20Q
Factory #2: MC2 = 40Q
The firm faces a constant marginal revenue curve given by:MR = 200
How should the firm allocate production?-How much should Factory #1 produce and how much should factory #2 produce?
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
An industry consists of three firms with sales of $200,000, $500,000, $400,000. Compute the Herfindal-Hirschmann index (HHI)
How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.
Estimate whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.
Draw a standard supply and demand diagram which shows the demand for new housing units that are purchased each month, and the supply of new units built and put on the market each month.
Evaluate price elasticity of demand
To what extent do you think normative economic analysis, as opposed to positive economic analysis, determines our country's economic public rule decisions made by the government?
Redstone Clayworks, Corporation is located in Sedona, Arizona and creates clay fire pits for patios. They are one of about two dozen companies around the world that produce and sell clay fire pits for retailers such as Home Depot Lowe's Front Gate
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
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