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The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. The total variable costs are $20 for one aquarium, $25 for two units, $35 for three units, $50 for four units, and $80 for five units. In the form of a table, calculate total revenue, marginal revenue, total cost, and marginal cost for each output level (one to five units). What is the profit-maximizing quantity of output? (Taylor & Greenlaw, 2014, p. 203)
Along the long-run Phillips curve, the unemployment rate ________, and the inflation rate ________.
Identify any externalities associated with initiatives to develop alternative fuels in the United States. How do these externalities affect the market outcome? Is it possible for a government's solution to a market failure to actually worsen the fail..
Consider a perfectly competitive market for a product X that is in its long run equilibrium. Suppose that this is an inferior good, and that consumer's income increases and the increase is expected to be permanent. Assuming that the prices of the inp..
q1. walker inc. is trying to determine its price debt. firm has a debt issue outstanding with 15 years to maturity that
As a result of the American workers' ability to sell their labor though a union, profit-making firms must pay wages:
Short Run and Long Run Cost Function We consider the same production function is X=F(K,L)=3K^1/3L^1/3. Define the wage cost as w and the rental rate of capital as r. The price of the product is defined as p. 1. Consider a short run case where the amo..
What are the political and legal issues of South Africa. For instance the stability of the government, legal issues of concern to four business, etc.
Now that you have finished finance, you know there are things that we know matter and things that we think matter and things that we know very little about. Adopting NPV>0 projects is in the set of things that we know matter. We recognize that in com..
What is the level of price, output, and amount of profit for an unregulated monopolist? (b) Using the data in the table, what are the price, output, and profit for a regulated monopolist that sets price equal to marginal cost compared with an unregul..
Most airline routes in the US, Europe, and increasingly worldwide, are intensely competitive, yet most are oligopolies. What model of oligopoly is consistent with the price competition typical of the airline industry? Explain
Which of the following pairs of actions suggest that fiscal policy and monetary policy are working in the same direction?
What will the equilibrium be. How do producer and consumer surplus change from the perfectly competitive case.
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