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A firm has demand equation Q = 10 – 2P. The firm must sell an integer quantity of product and charge the same price per unit of product for all units sold. It costs the firm $2 to produce and sell each unit of product that it sells. The firm acts to maximize its total profits. Calculate these: (You MUST show your calculations to receive any credit for your answers: Price per unit__________ quantity of units___________ total profits___________
What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.
A friend wants your advice. His aunt recently left him $100,000 that he must invest in one or both of two different corporations. The current price per share of each is $100. If your friend buys 1000 shares of the first corporation, what will be the ..
A proximity sensor attached to the tip of an endoscope could reduce risks during eye surgery by alerting the surgeon to the location of critical retinal tissue. A certain eye surgeon expects that by using this technology, he will avoid lawsuits of $0..
Describe in your own words the categories of Web-enabled customer service as discussed in the assigned readings of the text. What makes the most sense for a business like yours (if you are currently employed)?
Explain why an industry in a perfectly competitive marketplace would choose to remain in business, if its profit is zero at equilibrium.
Find a Supreme Court case that deals with a constitutional issue (either pending or already decide d•Briefly describe the issue. Do you agree with the Court’s decision (or if it hasn’t been decided how do you think the case should be decided)? Why or..
After two quaters of increasing levels of production, the CEO of Canadian Fabrication and Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired. Explain ..
If interest rates or opportunity costs of investments, happened to be the same in both developed countries and emerging-economy nations, what could account for faster upward shifts in the latter group’s planned investment functions? Are stocks of pro..
Which of the following is true if cyclical unemployment is high?
Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen.
A clever, rich, and wealthy local politician promises to give you $1,000 on the first day of four months before elections….From here on he will give you 9/10 of the amount he gave you the day before… What is the total amount you will receive? When wi..
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
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