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A firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day.
Assume that total fixed cost equals $1,000,000. Calculate the values for the following four formulas:
Complete the following:
Provide a report to management of the firm that discusses what should be done.
Be sure to show your work to support the decision you outline in your report.
You are considering auctioning a Leonardo Da Vinci original sketch. You entice four bidders to come to your auction. The bidders’ valuations of the sketch in decreasing order are $3.0, $2.2, $2.0, and $1.5 (in millions).
Imagine you were assigned to develop a public relations campaign. Explain in detail how you could use each type of public relations research - Research on the Internet a recent event in which a defendant in a legal case tried to use public relations..
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
you are considering auctioning a leonardo da vinci original sketch. you entice four bidders to come to your auction.
Find Total Revenue or profit
At the beginning of the twentieth century, there were many small American automobile manufacturers. At the end of the century, there were only three large ones.
Shoes For Less (SFL) hires you to estimate the demand for their shoes, and you estimate this to be: Describe the difference in the results between your results and those of original consultant.
Question on Production Possibility Frontiers: Studying or Socializing? , The Social and Detail Division of Labor, Methodological individualism and social science
suppose that firm 2 acts as a price leader and can commit in advance to setting its price once and for all. in turn
country a produces two goods elephants and saddles. in the year 2006 the 10 units of elephants produced sold for 2000
How does a price ceiling undermine the rationing function of market-determined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government prices ceilings create shortage..
Some observers say that changes in the past few years have eroded the monopoly power of local cable tv companies, even if no other cable firms have entered their markets. What are these changes? Do these monopoly firms still have monopoly powers
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