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Q1. Your cousin Zenzo owns a painting company with fixed costs of P200 and the following schedule for variable costs:
QUANTITY OF HOUSES PAINTED PER MONTH1 2 3 4 5 6 7
Variable costs P10 P20 P40 P80 P70 P65 P64 Calculate, average variable cost, average fixed cost and average total marginal cost for every amount. Explain what is the efficient scale of the painting company if one house costs P300 to be painted?
Q2. Healthy Ozenzo's Juice Bar has the following cost schedules:Q (VATS) VARIABLE COST TOTAL COST0 0 301 10 402 25 553 45 754 70 1005 100 1306 135 165
a. Find the fixed cost?
b. Calculate average variable cost, average total cost, and marginal cost for each quantity
c. Graph all three curves. What is the relationship between the marginal-cost curve and the average total cost curve? Explain relation among the marginal-cost curve and the average-variable-cost curve?
Graph the Bens consumption function also find their households marginal propensity to consume.
Given two downward-sloping, linear demand curves, with one showing consumption to be 50 percent greater than the other demand curve at each price, is the demand elasticity the same at any given price?
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
Illustrate what was the growth rate of the GDP deflator between 1999 and 2000. Elucidate what was real GDP in 1999 measured in 1996 prices.
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
Use the capital-asset pricing model to predict the returns next year of the following stocks, if you expect the return to holding stocks to be 12 percent on average.
What is the relationship between marginal cost and marginal revenue when single-price monopoly maximize profit.
Assume that there are two categories of goods: protein shakes and all other products. A. Show using diagrams how a consumer's demand curve for protein shakes can be derived from an indifference map and a budget constraint diagram. Make sure you expla..
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
q1. suppose that the market for wheat is characterized by the following demand and supply relationshipsdemand
The marginal cost of production is $1.40 to firm 1 and $3.20 to firm 2. The transportation cost is $1 per mile. What is the Nash equilibrium price charged by firm 1? What is the Nash equilibrium price charged by firm 2?
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