Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose a consumer has $600 to spend on two goods, Good X and Good Y. The price of Good X is given by PX = $20. The price of Good Y is given by PY = $15. Graph the consumer's budget constraint.
Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Sketch a production possibilities curve (not a straight line), with consumer goods on the horizontal axis and capital goods on the vertical axis.
As an economist you have been tasked to address a meeting of a company on international professional to describe the differences between micoeconomics and maroeconomic and give real world example.
What kind of market structure exists for the oil producers (i.e. the ones who pull it out of the ground and ship and sell it as crude oil)? What does this market structure tell us about the pricing
The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units. The price that consumers are willing and able to pay for this output is $40 per unit.
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:
For each of following cost-output relationships, explain the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
You appoint an intern from Southern University to help you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3Q2.
Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."
Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7-Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?
Derive the average cost of producing 100,000, 200,000, 300,000, and 400,000 devices per year with plant A. (For outputs exceeding the capacity of a single plant, assume that more than one plant of this type is built.)
Always Round Tire has a production function of Q = 300 L.75 K.5. In the short run, if L = 250 and K = 25, what happens to the output of tires if L jumps to 300 and then 350. What law does this illustrate?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd