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Given the following: P = 1000 - 10Q and TC= 10,125 + 100Q + 5Q2
where P is the product price and Q is the output level A. Given we have a monopoly due to a patent, determine the profit maximizing output level, the monopoly price, and economic profits. Solve and show graphically.
B. Assuming we have lost our patent but that the cost curves are the same now that we are a firm in perfect competition in the long run, determine the profit maximizing output level for the FIRM in perfect competition, the price and economic profits. Solve and show graphically
Why does the assumption of independence of risks matter in the examples of insurance? What would happen to premiums if the probabilities of houses burning were positively correlated?
price quantity demanded quantity supplied300 500 1800270 600 1.700240 700 1600210 800 1500180 1000 1400150 1100 1300120
Recall the best supervisor or boss ever worked for and the worst one you ever worked for . Compare these two people in terms of their management skills and ability to perform the four management functions.
Consider the Labor Economics Question. This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor.
health care financial management is complex and an effective health care administrator must understand what makes up
consider a market where supply and demand are given asqd 56 - 2p qs -10 psuppose the government imposes a price
Buddy operates a handyman business performing various home repairs and renovations. Buddy is successful and has enough loyal customers to keep him busy, along with at least two workers. Buddy occasionally rents out some of his small equipment to othe..
1. provide an example of each of the factors of production and how the government may alter the factor to expand the
The terms price maker, price setter, and price searcher are all meant to imply the same thing, which is. In monopoly,
The demand curve for a product is given by P = 400 - 1Q/3. What is the own price elasticity of demand when price is $100? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price above $100..
Based on your knowledge of marginal analysis, how many workers should you hire?
Explain how a firm values the contribution of workers to its profitability. Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising?
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