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Question :
(a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost
Average Revenue: P = 10 Average Cost: AC = 4 + 0.6 Q
(i) Find the total cost and marginal cost function
(ii) Calculate the profit maximisation output level and the resulting profit/ loss.
(iii) Calculate market output and market price
(iv) If market demand shift to D = 420 - 2P and Firm A faces an average cost given by AC = 2 + 0.8Q what is the profit maximisation output level and resulting profit /loss for Firm A if AC is unchanged?
(v) What is the resulting output if we were in a LR situation?
merits and demerits of monopsony
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation c + wl = w; which can be rewritten as c = w - wl: The budget li
how to write the conclusion,i am doing the nike company.
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state the law of downward sloping demand
Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to ex
a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
Suppose we divide Canada into three regions; the west, the centre and the each
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
expansionary fiscal policy occurs?
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