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Third Problem Professor Bong has just written the first textbook in Punk Economics. It is called Up Your Isoquant. Market research suggests that the demand curve for this book will be Q = 2, 000 − 100P, where P is its price. It will cost $1,000 to set the book in type. This setup cost is necessary before any copies can be printed. In addition to the setup cost, there is a marginal cost of $4 per book for every book printed. 1. What is the total revenue function for Professor Bong’s book? 2. What is the total cost function for producing Professor Bongs book? 3. What is the profit-maximizing quantity of books for professor Bong to sell?
The aggregate marginal cost function for the other manufacturers of polyglot. Illustrate what is the total market Demand for polyglot at the price established by Alchem in Part
A new industrial oven has just been installed. To test the temperatures of the oven, the inspector reads the temperature in the oven at four different places every half hour. Set up a mean chart. Mark the upper and lower control limits and the center..
Given the rapid pace of technological change and financial innovation in financial markets nationally and internationally, would it be economically efficient to not deregulate banking? Explain.
Suppose a firm has the following production technology: one work is required to operate on one machine (capital). More than one worker on the same machine will have a zero MPL. One worker operating on two or more machines will also have a zero MPK. I..
Ten equal annual deposits, $A, are followed by 5 annual withdrawals. The first withdrawal of $12,000 is made at the end of year 11 and each subsequent withdrawal increases at the rate of 8% per year over the previous year’s withdrawal. Which of the f..
Review Porter's 4 competitive strategies and give a real-life company example of which strategy a company is pursuing.
Smith and Wesson have written a new managerial economics book for which they receive royalty payments of 15 percent of total revenue from sales of the book. Because their income is tied to revenue, not profit, they want to maximize total revenue. wha..
Would it be more effective to tax in the different rate between the different states based on how much negative externality it were cause?
Suppose that you purchase a Treasury bond futures contract at $95 per $100 of face value. (LG 23-2) What is your obligation when you purchase this futures contract? If an FI purchases this contract, in what kind of hedge is it engaged? Assume that th..
What profit do you expect that the firm will make in the first year? (iii) Do you expect this profit level to continue in subsequent years?
q1. explain the essential distinctions among the stages-of-growth theory of development the structural change models of
Many automotive dealerships, such as BMW, sell low mileage late model used cars (often cars that were initially leased for 1-3 years) with warranties on defects and repairs that offer more coverage for longer periods of time than the warranties on th..
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