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We are given three coins: one has heads in both faces, the second has tails in both faces, and the third has a head in one face and a tail in the other. We choose a coin at random, toss it, and the result is heads. What is the probability that the opposite face is tails?
Consider the following table of costs for the Winsome Widget Factory, which operates in a perfectly competitive market. The market price faced by this firm is $6.00 per widget. a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit.
Is there any information that you find particularly interesting or unique to this entity?
A duopoly faces a market demand of p=120-q. Firm 1 has a constant marginal cost of MC1=20. Firm 2's constant marginal cost is MC2=40. Calculate the output of each firm, market output, and price if there is a Stackelberg equilibrium with firm 1 as t..
How does the income approach to measuring GDP differ from the expenditure approach Explain the meaning of value added and its importance in the income approach. Consider the following data for the selling price at each stage in the production
compute the demand schedule showing the number of workers hired for all wages from zero to $100 a day. What happens to this demand curve if the price of output rises from $10 to $12 per unit?
Given what you know about production technology and production functions, explain this seeming inconsistency.
Suppose that an individual consumes three goods -- food, clothing, automobiles. Denote the quantities of these goods consumed by X, Y, and Z respectively. Suppose the individual utility function is given by U = 5 ln x + 4 ln y = ln (1+z)
The United States, at the point where it is currently producing, must give up the production of 300 motorcycles to produce 15 additional SUVs with the same resources. Which of the following is the opportunity cost of producing 100 motorcycles
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale.
Wholesalers can buy roses at auction in aalsmeet, holland for $125 per container. a. Without international trade, what would be the price of a container of roses and how many containers of roses a year would be bought and sold in the United States
TC= 41,000,000+0.005Q 2 MC= TC/ Q =$500 +0.01Q calculate profit maximizing activity level and optimal profit, and optimal profit as percentage of sales revenue. profit maximization problem
Describe the difference between shareholders and stakeholders and discuss why differences play a central role in the corporate governance discussion
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