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You have the following information for a firm:
TR= 200Q-Q2
TC= 1000-8Q+Q2
MR=200-2Q
MC= -8+2Q
a. If the firm produces 60 units of output, what are profits or losses for this firm?
b. Is the firm maximizing profits producing Q=60? If not, what is the profit maximizing level of output produced?
c. What are maximum profits?
Which of the following is most likely to happen in the short run?
A profit maximizing firm will continue to hire labor inputs as long as a) it pays the workers a low wage b) the workers are productive c) the demand for labor is low e) the marginal revenue product is greater than the wage rate
On October 1, Golshan paid $250,000 for a residential rental property. This purchase price represents $200,000 for the building and $50,000 for the land. Five years later, on June 25, she sold the property for $250,000. Compute the MACRS depreciation..
Cost are represented by the equation C=10L+4K. Draw one isoquant and one isocost curve on a labour/capital frontier that show the cost-minimizing L and K required to produce Q=10. Label axes, curves, intercepts, and the cost-minimizing amounts of lab..
The Mortensen-Pissarides (MP) framework of search labor is the thing in analyzing (equilibrium) unemployment over the business cycle. Shimer showed that the lack of hires is the big margin that affects the volatility of labor. Since then people tried..
Describe Excess reserves make a bank less vulnerable to runs. why, then, don't bankers like to hold excess reserves. What circumstances might persuade them that it would be advisable to hold excess reserves.
Beat To A Pulp, Inc. sells paper and uses paper machines and labor in production. It pays $800 per employee and $400 per paper machine. Its marginal product of labor (MPL) is 1600 reams of paper per worker and marginal product of capital (MPK) is 200..
Suppose the government is considering the imposition of a unit tax to be levied on beer producers. The view of companies is that this is just one more cost for them to bear.
Explain the concept of Pareto Improvements and give examples from purchases you made during the last Christmas/Holiday season. Explain the term Deadweight Loss and cite an example of a market situation that would create such a loss.
Why would one be unable to associate particular amounts of calendar time with the concepts of market period, short-run period, long-run period and historical period? Why does marginal cost have such a strong influence on the supply response of a firm..
In the economy of Wrexinton in 2008, consumption was $500, exports were $200, GDP was $1200, government purchases were $250, and investment was $300. What were Wrexingtons imports in 2008?
That's constraint on or side. For Indonesian voters, are economic issues paramount in this election.
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