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A firm faces the following demand function:
Q=. 12-P. For 0<P<8
20-2P. For 8<P<10
0. For 0>10
A. Graph this demand function. For what value of Q Does this function have a kink?
B. What is the firms revenue function? Graph this function.
C. Give a plausible reason why a firms demand might look like this.
If it had doubled its land as well as labor, production would have been 325000 bushels. Does it have increasing, decreasing or constant returns to scale.
Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
What is the unemployment rate among the 500 surveyed people? Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
the rival long-distance carriers have complained that the local phone company repair persons have put peanut butter on rival long distance carriers's phone lines to encourage rats to eat through the lines.
Compute the incremental profit Electron Control would earn by customizing its instruments and marketing directly to end users.
State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads.
If a deposit outflow of $50 million occurs, which balance sheet would a bank rather have primarily or the following balance sheet.
what does your anticipated adjustment process imply about the CR for the industry. industry B has 20 firms and the concentration ratio is 85%
Describe at least three ways you could pay for your morning cup pf coffee. Illustrate what are the advantages also disadvantages of each.
Reasonable to assume that disutility of pollution is related to flow of new pollutants and it is thus adequate to use a static model. What are n predictions of model.
What is the marginal product of the second employee. What is the marginal revenue product of the fourth worker.
describe whether that combination leads to more or less growth over the next period.
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