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Gail works in a flower shop, where she produces 10 floral arrangements per hour. She is paid $10 per hour for the first eight hours she works and $15 an hour for each additional hour she works. What is the firm’s cost function? What are its AC, AVC, and MC functions? Draw the AC, AVC, and MC curves.
Illustrate what is the demand schedule for Belgium cocoa beans now which U.S. consumers can also buy them.
What will happen to the number of firms, the market supply, and the price of the good as we move from the short run to the long run?
Suppose that consumers become pessimistic about the future health of the economy, and so cut back on their consumption spending. What will happen to aggregate demand and to output? What might the government have to do to keep output stable?
Kathleen likes avocado also crab dip. After eating avocado also crab dip with four crackers, she switches to cheese with crackers.
DeAngelo Corp.'s projected net income is $150.0 million, its target capital structure is 25% debt and 75% equity, and its target payout ratio is 65%. DeAngelo has more positive NPV projects than it can finance without issuing new stock.
A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve if both in home construction.
What is the independent variable? What is the dependent variable? What is the intercept? What is the slope? Which equation represents demand side? Which equation represents supply side? What are endogenous variables in this model? What are exogenous ..
Explain how markets in perfect competition differ from markets that are imperfectly competitive. Illustrate what role does firm have in determining market price under each condition.
A garbage disposal company purchased a refuse truck on Feb. 2, 2113, at a cost of $72,000' The truck has a useful life of 8 years with an estimated salvage vale of $17,000. The straight line method is used for book purposes. For tax purposes, the tru..
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital.
Suppose the demand curve for a monopolist is q=500-p, and the marginal revenue function is mr=500-2q. The monopolist has a constant marginal and average total cost of $50 per unit. Elucidate what is the lerner index for this industry.
If firm A expects firm B to set its price at $20, what is firm A's best response? If firm B predicts that firm A will price good A at $36, what is firm B's best response? What is the NASH EQUILIBRIUM price and quantity for each firm?
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