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Cost Analysis : key informaiton
For the cost function C(Q) = 2000 + 15Q + 5Q2 + 4Q3, what is the marginal cost of producing the fifth unit of output?
A) $2,000.B) $256.C) $340.D) $365.
Suppose total benefits and total costs are given by B(Y) = 50Y - 4Y2 and C(Y) = 6Y2. What level of Y will yield the maximum net benefits?
A) 2.5B) 5.0C) 50/18D) 50/8
Illustrate what kinds of changes in underlying conditions can cause the supply and demand curves to shift
Illustrate the difference among the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution.
P stands for price Pr stands for price of related good also N stands for per capita disposable income.
Assume if the inflation rate is 5percent is this still acceptable. Provide quantitative justification for your answer.
Illustrate what are the production elasticities of demand for labor, capital (trucks) and energy. What type of returns to scale is consistent with the above production function.
If the reserve ratio is 15 percent and commercial bankers decide to hold additional excess reserves equal to 5 percent of any newly acquired checkable deposits, then the relevant monetary multiplier for the banking system will be:
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
Make a monthly sales forecast for the firm for 2001. Why would the managers of the Chemical Company want monthly sales forecasts of this kind.
Explain how do you plan to use this while making decisions about public expenditures.
What are two possible fiscal policy solutions for the problem? Using a Keynesian approach, you should be able to get numerical solutions. More points are given for numerical solutions.
The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized?
Assume if the objective is to increase total income, should the price be increased or decreased. Explain.
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