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A company produces two main products: electronic control device3s and specialty microchips. The average total cost of producing a microchip is $300; the firm sells the chips to other high-tech manufacturers for $550. Currently, there are enough orders for microchips to keep its factory capacity full utilized. The company also uses its own chips in the production of control devices. The average total cost (AC) of producing such a device if $500 plus the cost of two microchips. (Assume all of the $500 cost if variable and AC is constant at different output Volumes). Each control device sells for an average price of $1,500.
Should the company produce control devices? Is this product profitable?
Suppose that there is an "inflation scare," that is, suppose market participants increase their expectations of future inflation.
A firm has offices in London and New York. Fractional units of labor can be employed in each location (as part-timers can be hired) and the headquarters could be in either city.
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?
Bush proposed for government expenditures in the case of a recessionary gap? What is the effect of his policies on the federal government budget?
The price per unit remains $7.50 in both scenarios. Does the labour analyst's argument hold? Explain why or why not, and use data to prove your point. (Hint: calculate total costs in both circumstances).
Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."
How is interest rate described? Why is there a lower present value of goods to be delivered in future? What are their respective interest rates? Illustrate the adjustments which you think will ensue.
Finding the short run and long run profit maximizing price - quantity and number of firms in industry.
Suppose a frost kills a large portion of an orange crop, with a resulting higher price of oranges. It has been said that such an increase in price benefits no one since it cannot elicit a supply response; the higher price, it is said, simply "line..
Consider a homogenous-product Cournot duopoly model in which Q is the market output-Determine the best-response function for each firm. Draw a diagram showing the two best-response functions.
Karen earns $75,000 in the current period and will earn $75,000 in the future. Assuming that these are the only two periods, and that banks in her country borrow and lend at an interest rate r = 0, draw her inter-temporal budget constraint.
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