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A firm has a fixed production cost of $5000. For the first 100 units of production, the firm has a constant marginal cost of production of $400 per unit produced. Producing more than 100 units ha s constant marginal cost of production of $600. The firm cannot produce more than 150 units. What is the firms Total Cost, Marginal Cost, Average Total Cost, Average Variable Cost and Average Fixed Cost functions.
Suppose that total employment in the U.S. economy increased from 143,000,000 to 145,500,000 from last year. At the same time, the number of unemployed dropped from 11,000,000 to 8,700,000. Also suppose that the working age population increased from 2..
VetPharm has historically produced and sold drugs for animals; however, one of its products developed for animal use has recently been approved for a similar use in humans. Market research has revealed that that at the current per dose price, ..
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by drop..
WHAT IS THE CURRENT AVERAGE NATIONAL INCOME? WHAT IS THE CURRENT UNEMPLOYMENT RATE? WHAT IS THE CURRENT INFLATION RATE?
suppose the market for hdtvs in the usa can be expressed by the following demand and supply equationsqd 7500 - 2400pqs
1 a significant difference between monopoly and perfect competition is thata. free entry and exit is possible in a
Suppose the government imposes a tax of $1 per unit to reduce widget consumption and raise government revenues. What will the new equilibrium quantity be? What price will the buyer pay? What amount per unit will the seller receive?
A competitive O¨rm produces nonnegative output quantities z
Consumers make decisions based on:
What is the profit-maximizing level of output and price for the monopolist? Now suppose that this rm is in a perfectly competitive industry, still facing the same marginal cost curve. (Assume that the average cost curve of this rm always lies below i..
Markets have been present to some degree throughout history, but market society is fairly recent. What does Varoufakis argue was necessary for the development of capitalism and modern economic analysis?
barry a texas crude company engineer who did not take engineering economy while studying at tech recommended that texas
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