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A company in a purely competitive industry is currently manufacturing 1200 units per day at a total cost of $600. If the company purchased 1000 units per day, its total cost would be $400, and if it produced 700 units per day, its total cost would be $375. What is the firms ATC per unit at these three levels of production? If every firm in this industry has the same cost structure, is the the industry in long-run competitive equilibrium? From what you know about these firms' cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium? If that price ends up being the market price and if the normal rate of profit is 10%, then how big will each firm's accounting profit per unit be?
Describe the lower price alter the marginal utility you originally placed on the item.
Which type of firm faces the most elastic demand curve? In which of market structures are firms able to earn both accounting and economic profits in the long run?
marketplace labor demand is typically more elastic in absolute value than market labor supply. A person who has a substitution effect that dominates his income effect will increase hours worked when an income tax is imposed.
A firm in an oligopolistic company has the following demand and total cost equations Maximum quantity at which profit will be at least $850.
One basic popular voting scheme is rank-order voting, where individuals assign a rank (1,2,3) to the possible alternatives; the assigned ranks are then added up and the alternative with the lowest sum wins. Consider a choice among the 4 alternativ..
The following information describes a hypothetical economy (assume all numbers are in billion if necessary) Determine the value of the MPC of this economy?
Explain what are the factors you identified similar or dissimilar for the embezzlement and burglary plots.
The public tends to view trade deficits with alarm while macoreconomics claims that trade deficits can actually be usefull for the economy. Discuss the macroeconomists position on trade defilicts
Suppose a monopolist with cost function C (Q) = 3Q selling to 2 segments of consumers where Q is total output produced by the monopolist in both markets. If the monopolist can use a single two-part tariff, compute the two part tariff that will maxim..
Explain why do think the European Union countries decide to have a single central bank and a single currency, instead of just agreeing to maintain fixed exchange rates among their currencies.
Utilize supply and demand analysis to explain why the equilibrium price of apples will rise and the equilibrium quantity will fall if an excise tax is levied on apples.
Discuss market trends that your selected organization/industry will face. My organization is Ford.
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