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Assume the price of capital doubles and, as a result, firms make no change in the relative quantities of capital and labor they employ. This implies that:
labor is not readily substitutable for capital.
the law of diminishing returns is not applicable.
the firms are producing an inferior good.
the demand for capital is highly price elastic.
An auto-service establishment has estimated its monthly cost function as follows: What price should the firm charge to realize the targeted profit? What would be its (cost-based) markup ratio? Now suppose the demand curve the firm faces is: Q = 3000 ..
Firms 1 and 2 compete in a Cournot duopoly. If firm 2 adopts a strategy that raises firm 1's marginal cost:
If a firm experiences diseconomies of scope, then it:
Evalute the probability that the company A defaults during the next year assuming that the CDS is priced in a way that makes the expected profit from selling the CDS as zero, and assuming that default probabilities do not vary during the 5 years.
For the total variable cost (TVC), draw a positive total fixed cost (TFC) and total cost (TC) curves. Then derive the associated marginal cost (MC), average total cost (ATC), average variable (AVC) and average fixed cost (AFC) curves. Be sure to capt..
A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker.
Suppose that a consumer’s demand for a product is given by P = 80-2Q. A monopolist produces the product at constant marginal cost, where MC = $6. The firm has no fixed costs. What value of T and P should the firm choose if it wants to maximize its pr..
Romer Model Consider an endogenous growth model-Use equation (2) to solve for the growth rate of technology ga Your answer should only include l, z, N. Use your answer in part (a) and A0 to write an equation that determines what At would be for any t..
suppose the quantity of good x demanded by individual 1 is given by x1 10 ?? 2px 001i1 04py and the quantity of x
The inverse demand function for mangos is defined by the equation p = 91 − 5q, where q is the number of crates that are sold. The inverse supply function is defined by p = 3 + 6q. In the past there was no tax on mangos but now a tax of $44 per crate ..
bavarian crystal works designs moreover manufactures lead crystal wine decanters for export to international
GoPro holds a monopoly in two countries where it sells video cameras, USA and Canada. The demand functions for the two regions are, GoPro has a unique manufacturing process where it can produce each video camera for $20. Assume there are very strict ..
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