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Given a numeric production schedule, you will calculate profit and make decisions about short-run profitability to answer questions relating to your calculations. Jerry's Lock Shop is a perfectly competitive firm, and Jerry is operating at his level of output, which maximizes profit. He can change locks for 20 different customers per day and charges each customer $35 for each lock. His total cost of changing locks is $800 and his fixed cost is $160.For each question, show the formula and the calculation as well as the final answer.
a. What is Jerry's marginal cost? Explain how you arrived at that answer.
b. Calculate Jerry's profit.
c. Advise Jerry regarding his short-run decision to produce. Explain how you arrived at that answer.
d. Advise Jerry regarding his long-run decision to produce. Explain how you arrived at that answer.
Economic analysis that takes into consideration linkages between markets is called ? A. partial equilibrium anaylysis B. input output analysis C. general equilibrium analysis D. cost-effectiveness analysis E. none of the above
Compute the growth rate of the dividend, g. (You can either compute the ROE*plowback ratio or compute the annual growth rate of dividends) e) Based on this information, what should the price of the stock be today using the constant-growth dividend ..
Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate and which contract should the player accept, based on the concept of present valu..
Find out average fixed costs when the firm produces 50 widgets per day. Find out average total and variable costs for producing 49 widgets.
Identify and list all factors that impact the level of consumption. Select one factor of consumption and explain what would be the impact on the whole economy if that factor of consumption had declined.
Compute the ideas of the Classical economists with the ideas of John Maynard Keynes, and explain what kind of revolution the Keynesian revolution was.
The demand function for gadgets is providede by the following formula. Illustrtae what is the point price elasticity of demand.
CEO pay appears to be on the rise again. Also executive pay in the US is about 20 times higher than it is in European countries.
Explain briefly the advantages and disadvantages for each tool the Fed can use to manipulate the federal funds rate.
You must select between sports training or working full time. If you choose sports training, you will have less of a social life. You will also pay $20,000 A year for training, but you will get $15,00 grant.
How income may change savings behavior
By how much will each firm reduce its SO2 output? Which firm will buy permits, which firm will sell them, and how many permits will be exchanged?
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