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By definition, the elasticity of total cost is the ratio of marginal cost to average cost; for the total cost function TC = 0.4Q2 + 40, find the elasticity of total cost at Q=5, Q=10, and Q=20 units of output.
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land ( a fixed cost ) and half is the cost of labor and machines ( a variable cost ) . If the average total cost of producing wheat is $20 and the..
Find the Herfindahl index for an industry composed of (a) three firms- one with 70 percent of the market, and the other tow with 20 and 10 percent of the market
Explain how many cars does the United States export. Suppose a car costs $10,000 on the world market. How much, then, does a barrel of oil cost on the world market.
Analyze and outline the three most likely reasons for growing food insecurity in the United States. Do you think food insecurity is on the rise in the U.S.; how about in your own community
What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.
The property appraisal office for Mobile County has just installed new software to track residential market values for property tax computations. The manager wants to know the total equivalent cost of all future costs incurred when the county commiss..
Your paper should be written using a word-processing program, likely Microsoft Word otherwise a Word-compatible program.
Assuming that the MPS is 0.2, government spending is RM15 billion and there is no crowding out. a.) Assuming that MPS increases to 0.3 how much the government should increase expenditure to increase the aggregate demand by RM40 billion?
The price elasticity for butter is fairly high (in absolute value). Which of the following is among the reasons why its demand is so elastic?
Rent control is an example of a price ceiling. Which of the following problems must be addressed under a rent control program?
explaining the effect of demographics on public revenue sources.
One common criticism in the optimal taxation literature is the specification of the social welfare function. The optimal taxation literature (I have the Mirrlees framework in mind) relies on first specifying a social welfare function. what kind of po..
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