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The monopolist’s demand function is P = $405 - $5Q, its average cost function is AVC = $20+$0.5Q, and its fixed costs are $6,000 per hour. Calculate the monopolist’s profit maximization output, price and its hourly profit. Calculate the elasticity of demand at its profit maximizing output.
Should the controller's argument be accepted if she does not really know much about copier technology. What would it make a difference if the controller were knowledgeable about the pace of change in copier technology.
A coal mining company has a supply curve of W=48 + (72/2000)L and Demand of P= 60- (9/4000)Q. coal miners produce 8 tons of coal a day. they max profit.
Illustrate economic evidence is required to determine whether there are long-run increasing returns to scale in banking.
Illustrate what would happen to the demand for iPhones if consumer income rises by 10%. Be specific. Are iPhones a normal or an inferior good.
Missy Walters owns a mail-order business specializing in baby clothes. Missy is confident the dollar amounts of all her orders are normally distributed or nearly so. Assume she knows the mean and standard deviation are $249 and $46, respectively, ..
Illustrate what components would be comprised in the spreadsheet. Explain how could you perform sensitivity analysis on the spread sheet.
If the power of special interest were reduced for example, through the adoption of supra-majority voting rule, would economic efficiency improve? How would contributions to political campaigns be affected? Do you think politicians are very interested..
Illustrate what fiscal policy or policies would be the best to get it out of the recession
Explain how much would she need to make in revenues to earn positive accounting profits. If a firm makes positive economic profit it means that the firm earns normal profit.
In the US, steel production has remained constant since the 1970s at about 100 million tons per year. Large integrated companies, like United State Steel, remain important in the industry, but roughly 50%.
describe some forms of private spending that represent consumption and some forms that represent investment. The national income accounts include tuition as a part of consumer spending. In your opinion, are the resources you devote to your educati..
Often it is claimed that banks create money by making loans. How can commercial banks create money? Is the government the only institution that can legally create money?
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