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A firm's profit, π , is the difference between its total revenue TR and its total costs TC. If TR = f (Q) and TC = g(Q) write the profit function and find the firm's marginal profit. What is the economic interpretation of marginal profit?
how you see interest rates- specifically the Federal Funds rate, which is the interest rate the FOMC is raising or lowering, or holding the line on.
Consider a firm in a perfectly competitive industry. The firm has just built a plant that cost $1,700.Each unit of output requires $14 worth of materials. Each worker costs $11 per hour.The firm's production starts at 300 units with 1 worker (40 h..
Does it appear that widgets would be a luxury good or necessity IF they sol at the perfectly competitive equilibrium (which they don't), and why?
Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market - Describe how high entry barriers into a market will influence long-run profitability of the firms.
Do consumers of public goods have the same incentives to reveal their true valuations of Public goods as they do of Private goods? Why or why not?
Characterize the demands for the goods as being more elastic or more inelastic - smoke cigars are bothered by the odor of cigar smoke
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
in an economy with no government sector investment is 1000 net exports are 100 and the consumption function isincome
Identify the ethical and legal issues of which Albert needs to be aware - Discuss the advantages and disadvantages of each decision that Albert could make and has made.
Determine if the benefits of free trade outweigh the drawbacks, and what could be done to address the drawbacks (if anything). State whether you believe fair trade is a fad or a trend. Provide support for your reasons.
postal service is a great example how market structure may change over time as shown in the simulation. in most cases a
Westside Plumbing and Heating Company is offered a contract for $100,000 to provide plumbing for a new building. The labor and equipment costs are calculated to be $60,000 for fulfilling the contract.
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