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A firm sells its product in a perfectly competitive market where other firms charge a price of $130 per unit. The firm's total costs are C(Q) = 40 + 10Q + 2Q2.
a. How much output should the firm produce in the short run?units
b. What price should the firm charge in the short run?
A company experiences rising returns to scale; that is, doubling all its inputs more than doubles its output. What can be inferred about the company's short-run costs?
Simple linear regression predicting the change in performance (in seconds taken to run a race) for 800m runners by the average hours of training undertaken per week during the pre-season.
.What are the equlibrium quantities (q1, q2 %u2026 ,q10)?. A-q1, q2 %u2026 ,q10 = 2B-q1, q2, %u2026 ,q9= 2 q10=1/2c-q1, q2, %u2026 ,q9= 3/2 q10=1/2d-q1, q2, %u2026 ,q9, q10= 3/2e- q1, q2, %u2026 ,q9= 3/4 q10=1/2f-q1, q2, %u2026 ,q9= 3 q10=1/2g-non..
Jim's utility function is U(x, y) = xy. Jerry's utility function is U(x, y) = 1,000xy + 2,000. Tammy's utility function is U(x, y) = xy(1 - xy). Oral's utility function is U(x,y)= -1/(10+2xy).Marjoe's utility function is U(x, y) = x(y + 1,000). Pa..
a. Calculate net exports. b. Use the expenditure approach to calculate GDP. c. Use the income approach to calculate GDP. d. Calculate net domestic product (at factor cost). e. Calculate net domestic income (at market price..
Suppose you have been recently employed as manager of a restaurant and a very important credit card firm offers you a deal that is supposed to raise your sales.
When disparities exist from census information, housing starts data and other research data when seeking for information to help with predicting the power tool market
Rewrite the model to show that this is in fact a two-variable model rather than a three-variable model. Define the parameters
Suppose that, as a result of monetary policy actions, the Federal Reserve sells 80 bonds that it holds. A. How does the Federal Reserve policy affect the bond supply equation? B. Calculate the effect on the equilibrium interest rate in this market, ..
Provide an estimate of the cross-price elasticity of demand for gasoline, both with respect to new cars and with respect to used cars. Are these estimates statistically significant? Do they align with economic theory? Give an interpretation of y..
Use the given utility function and the budget constraint from part A to solve for Chip's best response function for the number of hours collecting firewood taking the number of hours Holly spends (WH) as given. C. Solve for the privately optimal ..
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
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