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1. What types of firms would normally maximize profits along with real-life examples.
2. A producer of ballpoint pens has been purchasing ink from an ink supplier and its considering acquiring the ink supplier. Would the pen company be more or less likely to vertically integrate by buying the ink manufacturer if the government taxes ink? Please explain.
Which of the following would shift a supply curve in a perfectly competitive market for a good? Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. ..
The sales manager for ABC Electronics wants to maximize his profit on the sale of two portable media player models, JVD-2000 and MDP-72. The wholesale costs of these models are $310 and $100 per unit respectively. Find the optimal number of the two d..
Why do you think students with disabilities are targeted for bullying by their peers at a higher rate than non-disabled students? Do you think incidents of bullying are increasing, or that our educational system is just getting better at spotting and..
A railroad branch line to a missile site is to be constructed. It is expected that the railroad line will be used for 15 years, after which the missile site will be removed and the land turned back to agricultural use. The railroad track and ties wil..
A firm currently uses 100 workers to produce 200 units of output per day. The daily wage (per worker) is $80, and the price of the firm's output is $50. The cost of other variable inputs is $600 per day. The firm’s fixed cost is 8,000. The marginal c..
Suppose that, when the average price of shoes increases by 5%, the quantity supplied of shoes increases by 8%. What is the price elasticity of supply? Is the supply of shoes elastic or inelastic?
A corporation is trying to decide whether to buy the patent for a product designed by another company. The decision to buy will require an investment of $8 million, and the demand for the product is not known. Calculate the expected present worth of ..
Discuss how policy makers can incorporate the Domestic Climate Policy Framework into a widely accepted environmental policy. Provide examples.
Would a dynamic approach to taxation be more likely to lead to economic growth than the static approach in a country with a falling tax base? What about in a country with a growing tax base? If free riders cannot be excluded from consumption of a goo..
Primary, assume all retailers sell the basic version of Vista also Circuit City were to raise the price at which it sells Vista.
q.1let x be a random variable with probability density function fxc1-x2 -1ltxlt10 elsewherea what is the value of c?b
Suppose that production for good x is characterized by the following production function, q=k0.5Lo.5, where k is the fixed input in the short run. if the per init rental rate of capital, r, is $15 and the per unit wage, w, is $125, then the average f..
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