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The only variable input a janitorial service firm uses to clean offices is workers who are paid a wage, w, of $8 per hour. Each worker can clean four offices in an hour. Determine the variable cost, average variable cost, and the marginal cost of cleaning one more office. (There is no fixed cost)
A small-volume automaker limits the number of franchised dealers in the U.S. and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer.
Economist George Stigler once wrote that, according to consumer theory, "if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises."
Utilizing a separate supply and demand diagram for each part, illustrate the effect of the price of the yen in terms of dollars of each of the following.
Carlton Corporation, a manufacturer of electronic equipment, determine the following relation between its marginal cost of production output:
The forecasting staff for the PrizerCorporation hasdeveloped amodel topredict sales ofits air-cushioned-ridesnowmobiles. Themodel specifiesthat salesSvary jointly withdisposable personalincomeYand thepopulation betweenages 15 and 40,Z.
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
Acme make a decision to establish a sinking fund for its outstanding preferred stock issue. $975318642 represents the value of the issue that will be retired in 26 years
Explain why do we have such extreme diversity in pay in the US-port stars, actors, others making very high salaries while others make much less.
Suppose that work hours in New Zombie are 300 in year 1 and productivity is $14 per hour worked. What is New Zombie's real GDP? _____$ If work hours increase to 320 in year 2 and productivity rises to $16 per hour, what is New Zombie's rate of econ..
Using algebra find out the effects of this change in cost on profit maximizing output and the optimal profit.
Suppose the following output and labor hours for Russia and Germany in producing Wheat and Cloths.
The global economy in 2011 appears to be headed into a double-dip recession. Based on your knowledge of aggregate demand and aggregate supply, suggest the reasons and causes for the downward tailspin of the economy.
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