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Suppose that the marginal cost of producing output, q, in the short-run for a competitive firm is MC = 10 + 8q. The market price of the firm’s product is $25. a. What level of output will the firm produce to maximize its profits? b. Assume that the firm’s fixed costs are $5, and the firm’s average variable cost is given by AVC = 10 + 4q. What are the short-run total costs at the level of output the firm produces? c.What are the profits in the short-run? d. Show the level of profits in a graph.
Also, 40% of cell phones are both Flashy and owned by Hipsters. Finally, if a cell phone is owned by a Granny, the probability of it being Dull is .98. What is the probability that a cell phone is both Dull and owned by a Hipster.
Illustrate what will be the effect of the different tools of fiscal approach to stabilize the economy
The United States currently imports all of its coffee. The annual demand for coffee by U.S. consumers is given by the demand curve Q = 25010P . World producers can harvest and ship coffee to U.S. distributors at a constant marginal cost of $8 per pou..
In “Intellectual Property and Pharmaceutical Drugs: An Ethical Analysis,” Richard T. De George lays out what he comes to call the “Status Quo Approach” as a defence of copyright protection of pharmaceuticals. Do you find this argument persuasive ..
Discuss the circumstances under which the monetary policy multiplier is equal to zero. Explain why this can happen and how likely you think this is. Discuss the circumstances under which the fiscal policy multiplier is equal to zero. Explain why this..
Dusty derives utility from 3 goods: music (M), wine (W), and cheese (C). His utility function is given by: u(M,W,C) = M + 2W + C. Show that Dusty’s MRS of wine for cheese is constant for all values of W and C on the indifference curves calculated in ..
Imagine you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the ..
Define optimistic, most likelys, and pestimistic scenarios buy using both optimistic, both most likely and both pestimistic estimates. Use a life of 4 years as the most likey value. What is the present worth for each scenario
q1. in benchmarking sales representatives against one another illustrate problems arise from continuing to reassign the
Five annual deposits in the amounts of $7,500, $6,000, $4,500, $3,000, and $1,500, in that order, are made into a fund that pays interest at a rate of 8% compounded annually. Determine the amount in the fund immediately after the fifth deposit.
Which computer software package should the firm's human resources office use to manage the payroll?
Throughout the company’s franchises, the probability is 0.60 that a meal lwill be served with in 45 seconds. What is the expected number of coupons a counter employee will receive when serving the regional manager?
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