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Mr Patel runs a motel in Tampa, FL. The market is highly competitive since there are many hotels in the surrounding areas and the average room rent per night is $35. There are 30 rooms are Mr Patels motel and each room can be rented for 30 nights a month. That is each month Mr Patel can rent 900 nights total. Mr Patels monthly cost curve is:
TC = $10,000 + $10 x Q
What is Mr Patels Marginal cost? What is Mr Patels profit maximizing quantity? What is his maximum profit?
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Then, in the year after the 10 payments are made, you will receive 10 annual payments of $500 each. Your personal discount rate is 7.5%. Should you purchase the insurance product?
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A college graduate with a B.S. in Mechanical Engineering expects to earn, on average, $20,000 per year more than an engineer without a B.S. degree. If the graduate expects to work for 35 years, and the cost of the college education is $100,000, what ..
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q1. you manage a department in a large corporation. 2 years ago you had 20 workers and produced 40000 units. the
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Microeconomics approaches the study of economics from the viewpoint of a. individuals or specific markets. b. the operation of the Federal Reserve. c. economy wide effects d. the national economy
Elucidate whether each of the following events shifts the short-run aggregate-supply curve, teh aggregate-demand curve, both, or neither.
The market demand is P=100-1.5Q and marginal & average costs are constant at 10 (MC=AC=10) find the monopoly price and quantity. find the perfect competition price and quantity. calculate profit, social welfare(consumer and producer surpluses), and d..
Suppose that the cost of eradicating polio from a society of 1,000 persons is $5 per person. Also suppose that only two persons in that society will benefit from that policy, and the benefit to each of those persons is $2,000. Then what is the social..
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