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dollars per unit = 8.00, 6.00, 5.00, 4.50, 3.00 and Units per Period = 5,000 , 8,000
a) what is the monopolist's profit-maximizing output?
b)At the profit-maximizing output rate, what are the monoplist's average total cost and average revenue?
c) At the profit-maximizing output rate, what are the monopolist's total cost and total revenue?
d) What is the maximum profit?
Mark McGwire hit 70 home runs while playing for the St. Louis Cardinals. In 1999, McGwire hit 65 home runs. This decrease in marginal(home runs per season) product led to an associated decrease in McGwire's average(home runs per season) product.
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Suppose the market for cigarettes is characterized by the following information: Qd=70-5P [Demand] Qs=3P-10 [Supply] Suppose the government imposes a sales tax of $2 per unit. i) Calculate the magnitude of the consumer surplus and producer surplus i..
Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Cost Cost Cost 0 $40 0 40 X X 1 40 55 95 95 55 2 40 75 115 57.50 20 3 40 90 130 43.33 15 4 40 110 150 37.50 20 5 40 135 175 35 25 6 40 170 210 35 357 40 220 260 37.14 50 8 40 ..
At 47 units of labor, a firm finds that average product of labor equals 39.6 and marginal product of labor equals 32.9. We can conclude that the average product curve at 47 units of labor is: A. vertical. B. horizontal.
Use the data above to graph the aggregate demand and aggregate supply curves. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy Is the equilibrium real output also necessarily the full-employ..
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a) what is the marginal opportunity cost of producing the second unit of clothing b) what is the total opportunity cost of producing the second uit of closthing c) what is the marginal opportunity cost of producing the third unit of clothing
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