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Potatoes cost Janice $0.50 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. If she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14, the third pound is worth $1.05, and all subsequent pounds are worth $0.30, how many pounds of potatoes will she purchase? What if she only had $3.00 to spend?
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
Good Grapes is selling grapes in a purely competitive market. Its output is 5000 pounds, which it sells for $5 a pound. At the 5000-pound level of output, the average variable cost is $4.00, the marginal cost is $4.25, and the average total cost i..
Explain the nature of the deadweight losses that occur from a tariff.
The cost of 150 H.P. compressors bought five years ago is as follows. For the first 50 compressors the cost was $2,000 per unit, and for the second 50 the cost was $2,400 per unit. Find the cost of 100 compressors of 200 H.P. rating today.
Why are exports included in the estimation of domestic product by the expenditure method? Can the gross domestic product be greater than the gross national product? Explain
Based on your knowledge of marginal analysis, how many workers should you hire?
According to the general utility formulas, the marginal utility of a good divided by the price of that good is
Research authoritative articles using the news and the DeVry Online Library for a recent case of antitrust investigation.
The perfectly competitive company takes the equilibrium value set through the market and maximizes profit through manufacturing where price, which also equals marginal revenue, is equal to marginal cost.
The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. Do specialization and trade benefit more than one party to a trade b. Is it absolute advantage or comparative advantage that really mat..
Suppose a special tax was introduced that used the value of one's automobile as the tax base. Each person would pay taxes equal to 10 percent of the value of his or her car. What distortions do you think would appear in the economy if such a tax w..
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
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