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You are the manager of a monopolistically competitive firm. The present inverse demand curve you face is P = 100 – 4Q (MR = 100 – 8R). Your cost function is C(Q) = 50 + 8.5Q2 and MC(Q) = 17Q.
What level of output should you choose to maximize profits?
What price should you charge?
What will happen in your market in the long run? Explain?
Elucidate why your answer to part (a) is an example of marginal analysis also optimizing behavior in general.
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Using the theory of symbolic interactions, how do sociologists explain the uniqueness of each individual human being?
Who is most likely to be earning economic rent?
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An American is considering relocating their Oregon facility to Nicaragua. The current exchange rate is 1 U.S. dollar (USD) to 25 Nicaragua Cordobas (NIO). The current wage rate in Nicaragua is 200 NIO per hour, and the U.S. wage rate is $15/hr. If th..
1.consider a macroeconomy was initially at equilibrium level of real gdp. using an aggregate demand and aggregate
A friend borrows $1280 today and promises to pay you back $2190 in 5 years. If inflation is expected to be 3.9% per year during this time, what is the inflation-adjusted rate of return per year? the real rate of return per year?
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Tom earns $15 per hour for up to 40 hours of work each week. He is paid $30 per hour for every hour in excess of 40. Tom faces a 20% tax rate and pays $4 per hour in child care expenses for each hour he works. Tom receives $80 in child support paymen..
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