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Suppose that long run costs for firms operating in the industry are given by
Cost LR = 2∗Q
1. What is the long run supply curve for the industry?
2. What is equilibrium quantity in the industry?
3. Can we say something about the equilibrium?
What is the probability that more than 200 cars will require service work in a particular month? B. What is the probability that fewer than 175 cars will need service work in a given month?
Providing a subsidy to correct for an overallocation of resources Providing a subsidy to correct for an underallocation of resources.
How should the manufacurer respond to this competitive threat? Suggest at least two alternatives.
Suppose the long run price elasticity of demand for gasoline is -.60. Assume that the price of gasoline is currently $4.00 per gallon, the quantity of gasoline is 140 billion per year, and the federal government decides to increase the excise tax on ..
If the required reserve ratio ia 10 percent, up to illustrate what amount could checking account deposits in the banking system as a whole drop.
From the e-Activity, assess how business leaders use managerial economics to make business decisions indicating how profits may be impacted.
The revenue for a new product that will stay in market for five years is projected at $45,000 in year 1, and the revenue is expected to reduce by $5,000 per year. What is the present value of the projected revenue stream if the interest rate is 8% pe..
What has happened to real GDP per person in the industrialized countries over the past century? What implications does this have for the average person?
Develop a preliminary set of arguments you will present and anticipate the counter-arguments you can expect to encounter; make a list
Illustrate what is Great Reception's profit when producing at the profit-maximizing output
If the IRR of Alternative A is 16.91%, the IRR of Alternative B is 14.91%, and MARR is 10.91%, which of the following is correct? neither alternative A nor alternative B is acceptable. not enough information is given to determine which alternative is..
Illustrate what is the smallest value of x that would be sucient to make Buck want to invest in the pinball palace rather than have a wealth of $24,000 with certainty.
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