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Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition. Due to a slow economy, business has been slow and the company is losing money every month. The owners have asked you whether to continue operations or to shut down at least until the economy improves. You have the following information available: Marginal Revenue (MR) = $130 Total Cost (TC) = $1,100 + 135Q + 0.6Q2 Marginal Cost (MC) = 135 + 1.2Q As the plant manager, should you recommend to the owners that the plant be shut down for a while?
Jenny, your niece, is a smart high-school student who wants to make intelligent choices for her future. Hearing of your course in business economics,
What is the least you would be willing to accept to sell your house? c. Why are the answers to the above two questions different?
Discuss the conditions that will help the union achieve the objective. Why might a union be unable to meet its goal?
Assuming that all buyers received the credit, estimate the own cost elasticity of demand as well as well as own cost elasticity of supply.
Assume that the country initially has no restrictions on trade also then imposes an import quota
Elucidate how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
During the course of a week, McDonald's has enough time to hire or layoff workers, but it does not have enough time to expand its kitchen or add an additional seating area.
Draw the budget line on the Edgeworth box through the endowment point. What is the equilibrium allocation?
Given a normal population whose mean is 50 and whose standard deviation is 10. Find the probability that a random sample of 4 has a mean between 49 and 52.
Suppose you are studying the market for shoes. Two events take place simultaneously. First, price of leather decreases, and second, consumers' income increases. What will happen to the equilibrium price and equilibrium quantity of shoes?
Allied Electrons must purchase a new automatic soldering machine to meet increased demand for its electronic goods.
Merk is a biotech division of Bayer Pharmaceuticals. In its eight years of existence, Merk has had only one drug make it into clinical trials.
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