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The demand function for a firm’s product is Q = P!3. The firm’s marginal cost of production is constant at MC(Q) = 12.
(b) Does the firm’s profit maximization problem satisfy the global SOC?
(c) Using your answers to (a) and (b), what is the firm’s profit-maximizing markup? (Justify your answer carefully. Do not forget about the possibility of a boundary solution.)
(d) Based on your answer to (c), what is the firm’s profit-maximizing price?
(e) Based on your answer to (d), what is the firm’s profit-maximizing quantity?
Human Capital Investments. Suppose that the marginal cost of an additional unit of human capital is given by MC = 400 and the marginal benefit is given by MB = 800 ? 25HC , where HC is the number of units of human capital. Graph MB and MC as a functi..
Alice has 10lbs of cheese and 12 bottles of wine while bill has 6lbs of cheese and 8 bottles of wine. Is this an efficient allocation? If no find a Preto superior allocation. Indicate the contract curve.
q1. illustrate what are the key determinants of spectrum healthcare resources fixed cost and variable cost in
Explain how this may be related to the problem of adverse selection. What could banks do to try to reduce this problem?
Identify two goods each whose demands exhibits (a) high income elasticity, (b) low income elasticity, (c) high price elasticity, and (d) low price elasticity. What accounts for the differences in elasticity?
Assume that Omar's marginal utility for cups of coffee is constant at 1.5 utils every cup no matter Elucidate how many cups he drinks.
To increase the money supply, the Bank of Canada can:
determine what product it could export and discuss why this product could be successful in that country. Make sure to explore and report the demographics of the country, as well as any transnational concerns listed.
Elucidate how might this allocation under allocation get resolved via the means suggested by the coase theorem.
Suppose the UN has two pure strategies: It can either inspect facilities X and Y (both of which are geographically close to each other) or inspect facility Z. Find a Nash equilibrium in mixed strategies.
In response to the Great Recession a number of European governments adopted aus- terity policies which cut government spending on goods and services. Assuming no change in autonomous consumption or in autonomous investment, explain whether such an au..
Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Now consider one such ditch-digging firm that has five backhoes but employs ..
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