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The cost function for gumballs is given by TC = q(2v+w), where q is the output of gumballs (in thousands), v is the hourly rental rate for gumball presses, and w is the hourly wage. What is the underlying production function and what sort of returns to scale does that production function have? Does the cost function show economies or diseconomies of scale? Show all work.
globalization was welcomed around the world at the beginning of the 1990s. different trade theories were used to
Given production function
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year. each successive year yields a return that is $3,000 less than the previous year's return.
A gasoline station very near a professional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1000 cars. This year it raised the parking price to $5.00 and parked 850 cars. Did the statio..
The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows:
EMC has preferred stock outstanding which pays a dividend of $5.00 at the end of each year. This stock was issued in perpetuity and has no maturity date.
Draw up the payoffmatrix for game and do PA and LA have dominant strategies? Explain your answer.iii. What is the Nash equilibrium? Explain your answer.
Illustrate the impact of food stamps worth $100 compared to a $100 cash transfer on Joe's budget set b. Starting this month, Joe would receive food stamps worth $100 per month. How much more food would he buy this month if food on average costs $2..
the state of california recently considered passing a tax on the services of doctors in that state in order to raise
Assuming that banks used all their excess reserves to support an increase in the volume of bank lending, by how much would bank lending expand if the Fed undertook the policy action that was your answer to the question above.
For the total variable cost (TVC), draw a positive total fixed cost (TFC) and total cost (TC) curves. Then derive the associated marginal cost (MC), average total cost (ATC), average variable (AVC).
the policies of the federal government influence the outcomes of the various activities in that economy. when
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