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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:
TC =500,000 + 0.85Q + 0.015Q2
Q = 14,166 - 16.6P
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
KROM-FM is currently contemplating a T-shirt advertising promotion. Sales data from T-shirt shops marketing a prototype of the KROM design indicate that Q=1,200-200P Where Q is T-shirt sales and P is price.
What is Zynga's profit-maximizing number of games to be published and what is the total amount of the externality at Zynga's profit-maximizing quantity?
Calculate the net present value and benefit-cost ratio for four different discount rates
Textbook publishers have traditionally manufactured both United States and international editions of most leading textbooks. The United States version typically sells at a higher value than international edition.
A lawyer who drives a beat-up car and wears frumpy dresses may have a hard time getting customers. Potential clients may conclude from his appearance that he is poor, and if he is poor, he probably is not very good.
Research and evaluate sustainability economic and sustainable agriculture and evaluating a current or proposed government (local, state, national, international) policy and determining whether it is economically sound.
Global Organizations
Why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business, and franchise hotels in down-town areas, where there is a lot of repeat business.
Assume that both the equilibrium price and quantity of golf clubs rise. Which of the following explanations would best explain this outcome?
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development What kinds of costs are involved in making a decision to shut down
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