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Suppose the daily demand function for pizza in Berkeley is Q = 1,525 – 5P. The variable cost of making Q pizzas per day is C(Q) = 3Q + 0.01Q2, there is a $100 fixed cost (which is avoidable in the long run), and the marginal cost is MC = 3 + 0.02Q. There is free entry in the long run. What is the long-run market equilibrium in this market? [HINT: Again, the trick is to find the minAC(Q), as you did in Q.1.]
Discouraged employees are not considered unemployed. People who work part time but want to be working full time are considered employed.
What is the impact on the market for abdominal surgery usin this new technology?
A proposal has been made to increase the price paid by the consumers to the suppliers to $40. What will the resulting quantities demanded and supplied and the resulting utilization be?
Galvanized Products is considering a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow one-fourth of the purchase price from a bank at 15 per..
If a central bank adopts a policy of fixing an interest rate at a constant value and the economy enters a recession, what would happen to money supply and demand? Explain with a graph. Is this policy pro-cyclical or anti-cyclical?
Union B faces a demand curve in which a wage of $6 per hour leads to demand for 30,000 person hours, whereas a wage of $5 per hour leads to demand for 33,000 person hours. Which union faces more elastic demand curve.
Roy is a single person. He earned $75,000 last year. Among his expenditures last year were $10,000 on interest on his home mortgage, $2,500 payment on the principle of his home loan, $700 in charitable contributions, and $392 for food. And the person..
q.what are your predictions for the economy of thrifty peg based on the following policy scenario1. suppose the
elucidate how the changes in the monetary policy effectiveness lag and the interest-rate multiplier affects how much and how long monetary policymakiers must change interst rates in response to any given demand shock.
What is the difference between price ceiling and a price floor? If a price ceiling for a good is set below the market equilibrium, what will happen to the quality and future availability of the good? Explain.
Xaquane and Yullare are obscure but talented 18th century painters. The world’s stock of Xaquanes is 100 and the world’s stock of Yullares is 70. The demand for each painter’s work depends on its own price and the price of the other painter’s work. W..
According to the Green Party of Canada: “Eliminating poverty will pay for itself in reduced crime rates. Failure to eliminate poverty will cost our society far more than an effective program to make poverty history in Canada.”
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