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Assume your fixed cost is $250/acre, the variable cost per bushel is $1.22, and you produce 65 bushels/acre.
A. If the price you receive per bushel is $3.83, what is your profit per acre?
B. If the price you receive per bushel is $3.83, what is your breakeven quantity per acre?
C. If you produce 65 bushels/acre, what is your breakeven price per bushel?
The research department of Wilson has discovered a new technology on how to make more durable tennis balls and is considering whether or not to adopt the new technique.
What are the roles of money? Explain in your own words what each of these roles mean. Which of the roles do the following items satisfy? a. A credit card b. A painting by Rembrandt c. A subway token
Each can produce the next generation super computer for math (M) or for chip research. However, only one can successfully produce for both markets simultaneously. Find the Nash equilibrium (include the payoff in your answer), and elucidate why it i..
q1. in the absence of a price floor the maximum price that a few of the consumers are willing to pay is 0.20 for a
The marketing manager for Mountain Mist soda needs to decide how many TV spots and magazine ads to run during the next quarter. Each TV spot costs $5000 and is expected to increase sales by 300,000 cans. Each magazine ad costs $2,000 and is expected ..
A product has a negative income elasticity. What does that measure tell us about the product? Answer should be two paragraphs.
In which of the following cases must price always fall?
For the next two questions we will consider Rimor Bank, which has the following (partial) list of accounts on its balance sheet: Calculate the maximum amount of new money that Rimor Bank can create, by itself.
one receives a higher salary with the successful completion of degrees or the earning of diplomas. Elucidate how the sheepskin effect is analogous to SIGNALING MODEL.
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the econo..
If a $24 per share stock has a P/E ratio of 20 and pays out 40 percent of its profits in dividends, How large is its dividend? What is the implied rate of return?
Explain how do you suppose the tickets were rationed. Sketch supply and demand curves for the tickets to each of the two games.
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