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Consider the following market game: there are two firms in an industry firm1 and firm 2. Firm 1 first chooses the quantity of its production and then firm 2 observing q1 will choose q2.
Here are the cost functions for these firms: C1(q1) = 10q1 + 100
C2(q2) = 5q2 + 150
Demand curve is given by P=1000-Q where Q is the total quantity produced in the market. What would be the output of each of these firms? Which firm will produce more? Why?
When the average total cost curve is rising, then the marginal cost curve will be?:
If the price of A rises to 4 while other prices and Daniel's budget remain unchanged, how much or each does he purchase in equilibrium?
q.some economists have suggested that the best way to control medical costs is to remove the profit incentive for
Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. Do you agree or disagree with this assessment? Why?
q1. i want to know how to give tell to someone about ceteris paribus when he has a job working at a fast food
The following data has been provided by your manufacturing department to estimate the standard cost of producing a particular product. What is your estimate of the cost to produce each unit? If you company wishes to make a 20% of the manufacturing co..
What is the impact on the demand curve facing an individual firm in the short run - What happens to output produced by an individual firm in the short run?
One organization must have high fixed costs also low variable cost also the other must have low fixed costs also high variable costs.
For the Portfolio Project, students will conduct an analysis of a recent article and provide their evaluation and outcome expectations in a written paper of 1500-2500 words that discusses APA format and reference sheet needed.
In your own words, explain the farmer’s optimal solution in the free market using marginal cost analysis. How might this solution be suboptimal from society’s perspective? Explain who benefits and is harmed under the free market solution.
Suppose that every additional 3 percentage points in the investment (I / GDP) booat GDP growth by 1 percentage point. Assume also that all investment must be financed with consumer saving. The economy is now characterized by
Should GDP take into account environmental issues, distributional issues also health also welfare issues.
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