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Briefly explain whether it is possible for firms in a perfectly competitive market to earn zero economic profit even if they have incurred a sunk cost upon entry into the market. Given an example of such a cost.
1) What is development? 2) What are the essential things we require? 3) State things other than income,people seek as non materialistic?
Suppose there are n number of identical firms in a market. Each firms cost function is given by C = 648 + 8q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC = 16q. How much ..
A worker making 20$ per hour decides to take unpaid leave from work to attend a graduation ceremony. Assuming the worker works an 8 hour day has a total tax rate of 70% and receives a 5% contribution from his employer to his 401k, what is the worker'..
Cameron buys cheese (C) and chocolate pudding(P). His utility function is U=5C^1/4*P3/4.The price of cheese is $1, and the price of chocolate pudding is $2. Cameron's weekly snack budget is $60. Find Cameron's utility-maximizing point. Find Cameron's..
Give a detailed explanation about how the engineer's income generation as described above affects GDP and GNP of U.S.
Your firm’s research department has estimated your total revenues to be R(Q) = 600Q – 4Q2 and your total costs to be 60 + 2Q2. (Note that MB = 600 - 8Q and MC = 4Q). What level of Q maximized net benefits? What is marginal benefit at this level of Q?
Consider the budget of the U.S. government. First, give an overview of the size of government in the U.S. For example, how large is the U.S. government relative to historic trends or other countries? Second, discuss what are the primary sources of re..
If a monopolist successfully engages in 1st degree price discrimination
People holding money in anticipation that bond yields will rise is an example of
Research a real life example of quantity control imposed by the government (find out a market with quantity control). Discuss through which mean (such as license, tax, or other means) the government imposes a quantity control, and what are the ineffi..
As the US baby boomers retire, US government budget deficits are projected to increase significantly. Explain intuitively why the supply curve in the US loanable funds market slopes upward. Begin your explanation, by considering an increase in the re..
what is the probability that sample variance would be less than 100? what is the probability that sample variance would be more than 500.
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