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A cubic total cost function is expressed as TC=a+bq+cq^2+dq^3 if a=0 b=400 c=-50 and d=5 then
A. What are MC (Marginal Cost) and ATC (Average Total Cost) respectively equal to?
B. At what output levels are MC and ATC respectively minimized?
Consider an agricultural subsidy provided by the US government. Consider also that milk is one of the products subsidized. If there is NO trade with the rest of the world, the domestic price of milk in the US would be $2.25 per gallon and the equilib..
Suppose that the GDP of California increases by 14% each year. How long will it take for the GDP of California to double? Suppose that the GDP of Oregon today is exactly twice what it was 37 years ago. What was the average annual growth for Oregon ov..
Where does NSW get most of its natural gas supplies from up to now? What is happening to total domestic gas production in Australia and Describe the structural change that is taking place in the Australian gas market.
When traveling to other countries for business, it is important to know the male/female roles in each country. Not knowing these roles could cause problems in discussions and negotiations. If you were traveling to Saudi Arabia, New Zealand, Brazil, T..
Betson Enterprises distributes and markets the Big Buck video game, which allows players to "hunt" for elk, antelope, moose, and bucks without shivering outside in the cold. E-sports Entertainment in NYC purchased five machines for $6300 each and too..
Under what conditions would WTO allow countries to impose (practice) the following (be specific)?
If MC was $10 per unit, how much would the firm chose to produce? If FC was $200, how much does the firm earn in profits?
Suppose economists observe that an increase in government spending of $10 billion raises the total demand for goods and services by $30 billion. If these economists ignore the possibility of crowding out, they would estimate the marginal propensity t..
In light of the economic downturn, attention has been brought to companies that seem to have a monopoly on a particular market.
A company estimates its annual expenses, Y, in dollars from Y = 0.235X^2+7X+4 and annual revenue in dollars from 0.215X ^2+ 16X where X is annual units sold. Find the value of X that gives maximum profit. Round to nearest integer
Assume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions. The company is currently facing increases in the costs of major ingredients.
A price-taking ?rm selling in a market with a price greater than the ?rm's average total cost should:
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