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A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 6.00 percent. This firm is earning $15.00 on every $150.00 invested by its founders. What is its percentage rate of return? percent Is the firm earning an economic profit? If so, how large? percent Will this industry see entry or exit? What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium?
Economists estimate that on weekends (thursday-sunday) the demand for your product is much higher than on the weekdays (monday-wednesday). On weekends. the inverse demand curve for a typical customer is P= 10 - 0.001Q
A firm has a production function Q=F(K,L) with the constant return to scale, where k is units of capital and L is unites of labour.Imput prices are r=$2 per unit of K and w=$1 per unit of L.When it produces 5 units of output,it uses 2 units of cap..
Tina hires Jeff to do odd jobs around her home and agrees to pay him $5 per hour. Tina further agrees to guarantee Jeff at least 40 hours of work per week, and to pay him 1.5 times his base pay for any hours worked beyond 40. If Jeff works 45 hour..
Your company has asked you to analyze two mutually exclusive projects for the coming year. Project A will have an initial outlay of $7,200. Project B will cost $6,800. Both projects will last for three years. On the basis of the information regardi..
An electric switch manufacturing company has to choose one of the three different assembly methods. Method A will have a first cost of $40,000, an annual operating cost of 9,000 and a service life of 2 years. Method B will cost $80,000 to buy.
Suppose the following equations are true: Production Function: Q = K1/3L2/3, which means MPK = 1/3K-2/3L2/3,MPL = 2/3K1/3L-1/3 MRTS = 2(K/L) Total Cost = rK + wL r = .2 w = $5
Customer Group B is willing to pay $29,000 for the SUV and $1,000 for the towing package. Assuming the manufacturer cannot price discriminate but can bundle the products or sell them separate, which of the options below maximizes its revenues
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P
Robertson Inc. wishes to set aside lump sum money to withdraw from and invest in automating parts of its business over the next 5 years. This money is expected to earn compound interest at the rate of 10% per year.
two people live alone in isolated regions, have the same resources, grow potaotes and chickens, if one devotes resources to growing potatoes they raise 200 lbs a year. if they grow chickens they raise 50 a year. if they apportions some resourcs to ..
Nosebleeds: P = 30 - 2Q With the stadium built, payers paid, and the other costs of playing baseball game incurred, the marginal cost of admitting an additional customer is essentially zero (MC=0). Everything else is "sunk" or fixed costs, TC = 10..
Management of McPablo's Food Shops has completed a study of weekly demand for its "old-fashioned" tacos in 53 regional markets. The study revealed the demand function of Q=400-1,200P+0.8A+55Pop+800PL
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