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Dyna Rubber Inc. manufactures a high performance tire called the Sport 70. Fixed development costs for the current year are $600,000 per year. Marginal costs for manufacturing and distribution are $63 per tire. Based on recent sales experience, the estimated price for the Sport 70 is P = $130 - $.000125Q 1. Calculate the firms TR function 2. Calculate the firm’s TC function 3. Calculate the output, price total revenue and total profit at the revenue maximizing activity level 4. Calculate the output, price total revenue and total profit at the profit maximizing activity level
During the financial crisis of 2007-2008, the governor of the Bank of Canada expressed concern that the commercial banks were "hoarding" cash rather than extending a more appropriate volume of loans. Why might the banks do this, and what is the impli..
Until the Uruguay Round of trade negotiations, which of the following sectors were NOT included in the rules for International trade? Steel and agriculture Automobiles and electronics Agriculture and apparel Steel and textiles Automobiles and agricul..
Assume that you have been appointed as the Speaker of the House. You must deliver a speech about the current state of the U.S. macroeconomy to a number of amateur reporters who are unfamiliar with economics.
Explain the practical effect of price controls on product and service availability, quality and true cost. What is the full impact of rent controls? On whose behalf are they imposed? Who are the winners and who are the losers? What is the impact of p..
What would happen if the government chooses to increase the number of years that a firm can enjoy patent protection from 20 years to 25 years?
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market?
Laws that protect competition have recently been
Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports. Elucidate how does this make sense using supply and demand in a market in equilibrium.
Next write about the situation at hand and what is involved. Then do a SWOT analysis of Cirque Du Soleil. Then give your suggestions to improve Cirque Du Soleil's business in the global arena. Why do they export to the international locations they se..
Economists argue that the move from barter to money increased trade and production. How is this possible.
The labor demand curve in a perfectly competitive factor market is the horizontal sum of all firms' _____ product of labor curves.
Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Take the log of the above func..
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