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Suppose that an oligopolistically competitive restaurant is currently serving 230 meals per day (the output where MR=MC). At that output level, ATC per meal is $10 and consumers are willing to pay $12 per meal. What is the size of this firm's profit or loss? Will there be entry or exit? Will this restaurant's demand curve shift left or right? In long-run equilibrium, suppose that this restaurant charges $11 per meal for 180 meals and that the marginal cost of the 180th meal is $8.
What is the size of the firm's profit. Suppose that the allocatively efficient output level in long-run equilibrium is 200 meals. Is the deadweight loss for this firm greater than or less than $60?
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Demand estimation and forecasting and income elasticity of demand
Identify the choice that best completes the statement or answers the question and table shows a game played between two players, A and B. The payoffs in the table are shown as (Payoff to A, Payoff to B).
Explain why fitting a line of best fit through observed price and quantity combinations over time is not likely to yield good estimates.
EMC has preferred stock outstanding which pays a dividend of $5.00 at the end of each year. This stock was issued in perpetuity and has no maturity date.
General Electric (GE) is the company we selected. Explanation of the relevance to the firm, A strategy of how the firm will respond , A goal to maximize revenues for the years ahead 45
Two small airlines provide shuttle service between Las Vegas and Reno. The services are alike in every respect except that Fly Right bought its airplane for $500,000, while Fly by Night rents its plane for $30,000 per year. Analyze fixed costs, Ma..
What is the Underground Economy? What effect, if any, does the Underground Economy have on the entire economy? Is it positive, negative, or has no effect?
Suppose XYZ can sell up to 40 units of output per hour at a price of $.60 per unit but cannot even get a penny for units produced in excess of 40 units per hour. How much output should XYZ produce each hour in order to maximize profits?
Evaluate the impact of the proposal to cut prices on total revenue, totalcost, and total profits - Price and Output Determination:Monopoly and Dominant Firms
Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;
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