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Choco Delite is a manufacturer of fine chocolates. It's monthly rental expense is $1,000,000. It has 2 million in fixed labor costs. Its marginal costs are $.70 per chocolate bar. If sales fall by 30 percent from 2 million chocolate bars per month to 1,400,000 chocolate bars per month, what happens to the AFC per chocolate bar? The MC per chocolate bar? what about the minimum amount that can be charged to break even on these costs?
Suppose you are the CEO of ClipIt, a paper clip producer. Your firm enjoys a patented technology that allows it to make paper clips faster and at a lower cost than your only rival, FastenIt.
when the government increases taxes to provide traditional public goods, such national security, there tends to be what. marginal external cost equals marginal private cost minus marginal social cost.
Jesse and Kimberly recently graduated from college and are starting a family.they are just making ends meet with their $45,000 salary.what are some things they can do to their budget to find the money.
The Arena Corporation, which sells engines, has a uniform value of $500, which is charges all its consumers. But, after its competitors begin to cut their rates in the California market to $400, Arena decrease its price to $400.
His strategy to acquire companies in different lines of business based on the requirement that each business in GE was to become the #1 or #2 competitors in the industry is touted as being particularly brilliant.
Determine Acme's total profit function. Assuming that Acme is effectively able to charge different prices in the two markets, what are the profit-maximizing price and output levels for the product in the two markets? What is Acme's total profit und..
Reliance on finite supplies of foreign oil and on coal fired electric power plants causes ever increasing prices that we must pay for the oil and the deleterious effects on our environment from both as sources of greenhouse gasses
Efficiency can mean many things to many people. Even in economics, there are different types of efficiency. Here we are discussing productive efficiency. An economy is productively efficient whenever it is producing the maximum output with given t..
How does your analysis of VMP change if the employer is a monopolist producer of its output but a price-taker in the labor market?
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a value so high that there is no demand for the good.
Describe a situation where prices have been held out of equilibrium due to government intervention in the market-the obvious ones discussed in the text are rent control and agricultural subsidies. You may use a specific example of one of these, or..
Sales associates carry personal digital assistants to relay information on fashion trends and customer demand back to the company's team of 200 designers in Spain. Real-time sales data allow the factory to increase production of items that are sel..
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