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Sport Tee Corporation manufactures T-shirts bearing the logos of professional football teams. The wholesale market for fport T-shirts is perfectly competitve. The manager forecasts the wholesale price of T-shirts next year to be $7.00. The firm's estimated marginal cost is SMC = 12 - 0.005Q + 0.0000008Q2 where Q is the number of T-shirts produced and sold each month. Sport Tee Corporation will have a fixed cost of $2000 per month. At the profit-maximizing level of output total revenue will be
a. $10,000
b. $15,000
c. $20,000
d. $25,000
e. $35,000
The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand for its new product to various prices, as shown in the following table. Advertising effort was identical in each market. What is the price elasticity of dem..
Assume that the price of x is $2 and the price of y is $1 and Brian has an income of $10. How much does he consume of each good? Assume Brian's income increases to 20$, calculate his demand for each good and explain whether Brian considers x and y to..
Illustrate in a fully labeled graph the market for information security specialists. Show the market equilibrium wage and quantity (you may just note this in your graph with a “w” and “q” or you may make up a price and amount). Due to a recent increa..
What Scott is doing is committing fraud he is falsely selling products for his own benefits is molly decides to take the jeweler to another jewelers and they inform her the product is fake then she can rightfully sue Scotts business and ruined his re..
Operating expenses are expected to be $2000.00 the first year and increase by $500.00 each year during the life of the equipment. Is this is a good investment assuming equivalent annual methods?
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Fast Copy has had several suits filed against them concerning discrimination in the workplace. The plaintiffs in these suits complain that the general set-up of the organization prohibits them from advancement. Explain what type of discrimination the..
Ten people have dinner together at an expensive restaurant and agree that the total bill will be divided equally among them. What is the additional cost to any one of them of ordering an appetizer that costs $20? Explain why this may be an inefficien..
Foreign exchange rate stability is important because a decline in the value of the domestic currency will ________ consumers, and an increase in the value of the domestic currency makes domestic industries ________ competitive with competing foreign ..
Suppose that the tradeoff between unemployment and inflation is determined by the Phillips curve: u=un - α(π-Eπ) Where u denotes the unemployment rate, πn the natural rate of unemployment, π the rate of inflation, and Eπ the expected rate of inflatio..
A basic feature of the Keynesian view was that. Government purchases rise by $50 billion. According to Keynesian economists: The Keynesian theory predicts that an increase in the supply of savings will.
The entry of new vendors in the market for ice cream will cause a: A.) movement down and to the left along the supply curve B.) movement up and to the right along the supply curve C.) shift to the right of the supply curve D.) shift to the left of th..
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