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You are a manager in a perfectly competitive market. The price in your market is $45. Your total cost curve is C(Q) = 10 + 2Q + .5Q2 and MC = 2 + Q.
a. What level of output should you produce in the short run?
b. What price should you charge in the short run?
c. Will you make any profits in the short run?
d. What will happen in the long run?
Regarding hospital regulation, the models of hospital behavior developed. predict that the effects of DRG payments on hospital behavior will differ across hospitals because that system offers the same price to all hospitals.
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
Suppose Debbie purchases only hamburgers. Assume that her marginal utility is always positive and diminishing. Draw a graph with total utility on the vertical axis and the number of hamburgers on the horizontal axis. Explain how you would determin..
Does this production function display increasing, constant or decreasing returns to scale and find the corresponding minimum cost function assuming that w 1 and w 2 are given.
Determine how a policy will change social welfare, changes in individual utility for high-income individuals are weighted more heavily.
. in the keynesian cross assume that the consumption function is given byc2000.75y-tplanned investment is 100
Given a 15% raise in a good's price and a 25% decrease in quantity demanded for good by consumer, which of the following types of elasticity best describes the demand curve for the consumer?
Calculate the break-even weight for weaners. Show your calculations here and Develop a partial budget for a change in weaner cattle production.
What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect..
nbsplisted below are several summary statements from the 2010 census reportthe official poverty rate in 2010 was 15.1
Suppose the demand for dollars increases by 300 billion at each exchange rate. Explain if the increase in demand results from a large purchase b the Chinese of a new American-made airplane or a large purchase by Americans of new lower priced Chinese-..
1. indifference curves are convex to the origin ifa. a persons marginal rate of substitution declines a he or she
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