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A firm produces output of chips y using a cost function c(y), which exhibits increasing marginal costs.
Of the chips it produces, a fraction 1 − α are defective and cannot be sold. Working chips can be sold at
a price p and the chip market is highly competitive.
a) Calculate the derivative of profits with respect to α and its sign.
b) Calculate the derivative of output with respect to α and its sign.
c) Suppose that there are n identical chip producers. Let D(p) be the demand function, and let p(α) be the competitive equilibrium price. Calculate dp/dαand its sign.
What effect on market labor in tablet company manufacturing industry if Congress bought more tablets for US college students, more college students major in engineering and computer science, and computer firms build more manufacturing firms?
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explain how much of the current unemployment can be attributed to cyclical factors.
The "interest-only" mortgage typically converts later to a:
We discussed the possibility that a start up firm in San Francisco plans to 3-D print Rhinoceros horns that are indistinguishable from real horns. Assume they are able to produce these horns cheaply. Suppose the price elasticity of demand for heating..
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Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f (a) Find the limit output for fixed costs ( f ) equal to 50, 32, 18, and 2. (b) What is the SPNE for the entry game with the following tim..
Eddie\'s Electronics sells laptop computers for $400. At this price, the store sells 325 laptops. Eddie\'s Electronics incurs a $343 cost for each laptop it sells. Assume that this is the store\'s only cost. Round your answers to the nearest dollars...
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