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Question: Consider the accompanying breakeven graph for an investment, and answer the following questions.
(a) Give the equation for total revenue for x units per year.
(b) Give the equation for total costs for x units per year.
(c) What is the "breakeven" level of x?
(d) If you sell 1500 units this year, will you have a profit or loss? How much?
(e) At 1500 units, what are your marginal and average costs?
Homer likes doughnuts. His total (dollar) benefit of consuming six doughnuts is $4.50 . Explain whether the following statement is true, false, or uncertain: "If the price of doughnuts is 70¢ a doughnut, Homer will purchase at least six doughnuts."
To win, they have to guess the exact percentage that answered a question a certain way, and the range has already been narrowed to an 11-point range.
the xyz corporation is an american company that manufactures the parts needed for its products abroad in country m. it
What the long-run industry supply curve for this industry? Suppose demand is given by D(p) = 400 - lOOp. What is the long-run equilibrium for this industry?
What are the private costs and benefits associated with smoking cigarettes? What are the external costs?
At what level of output does the AVC reach its minimum? What is the AVC at this output level? Suppose the price of the product is P = $125. Determine the profit maximizing level of output?
Presume the utility function for a firm manager is U = Î + bQ, where Q is output, Î is profit, and b is a positive constant. How would the firm's output compare with what it would be if the manager's objective was to maximize profit?
Find profit-maximizing output and the amount of the factor that the firm demands - find also the maximum profits. (Hint: the marginal product of the factor is 4x-1/2.)
Sweet cider is delivered weekly to Cindy's cider bar. Demand varies uniformly between 100 liters and 200 liters per week. Cindy pays 30 cents per liter.
Critics of the minimum wage discuss that as an antipoverty device it is "poorly targeted." By this they mean that:
Illustrate out the term game theory? describe it with the situation in which game theory is applicable, along with any description of the two rival's strategies.
When economists speak of "marginal," they mean. Managers undertake an investment only if. A company is producing 15,000 units. At this output level, marginal revenue is $22, and the marginal cost is $18. The firm sells each unit for $48 and average..
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