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A firm's cost function is TCi = a + bqi + c qi2, where a, b and c are positive constants a. Find its marginal cost function, and show that MC is increasing for all q. b. Find its average total cost function. Now, prove that at the quantity that minimizes ATC, MC = ATC. c. Suppose TCi = 1000 + 20 qi + .1 qi2 Find the firm's short run supply function, qi(P). If there are 3 identical firms in this market, what is the market supply function? If demand is Qd = 1000 15 P, what is the short run equilibrium price? What is each firm's profit or loss? What is the industry's consumer surplus? Is this market in long-run equilibrium? How can you tell? d. In the long run, what is each firm's optimal quantity? What is the long-run equilibrium price? How many firms will exist in the long run?
Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
Higher risk-averseness will: a) increase the demand for health insurance b) reduce the demand for health insurance c) have no impact on health insurance demand
Explain underlying basis for foreign direct investment and discuss several factors that may contribute to it. What factors have likely contributed to current U.S. net direct investment position.
about the situations when a differentiation strategy is chosen? Provide specific real world examples.
Can you provide any examples of Illustrate what kind of equality could be made to offset these increased society costs
if la jolla could obtain additional of the white wine, should they do so. if so how much should they be willing to pay for each additional gallon and how many additional gallons would they want to purchased
If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is 2. If the absolute value of a demand elasticity is less than 1, then
What will the sustainability movement look like over the next 20 years? What issues do you expect to take center stage? How will business respond?
Clearly define “crowding out” and economic effects. Graphically illustrate the level of crowding out in an IS-LM model. Explain in detail how the interest elasticity of investment affects the level of crowding out. Be sure to explain why this is the ..
Assume, no calls are currently on hold. If agent takes 5 minutes to complete current call, how many callers do you expect to be waiting by that time. Illustrate what is probability that none will be waiting.
q. 1. clients to live theaters inc. can be partitioned into 2 groups seniors and everyone else. the converse demand
Explain why it is not possible for one agent to have a comparative advantage in all goods, a worked example with calculated values would be useful.
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