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A perfectly competitive firm sells 50,000 units of knives at a price of $3. The firm's average cost at 50,000 units is $2.75. Calculate the firm's profit. Please verify answer twice before sending back to me the steps. I want to make sure I have the calculation steps correctly given, and the correct answer.
state whether each of the following events will result in a movement along the demand curve for McDonald's big Mac hamburgers or whether it will cause the curve to shift. If the demand curve shifts, indicate whether it will shift to the left or th..
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
positive levels of output and are zero if the monopolist shuts down. If current output level is 5, illustrate what should the monopolist do to increase profits.
PC-World is a U.S. manufacturer of personal computers. The CEO is looking at opportunities for off-shore production. The selection of the country where PC-World will establish a production facility will depend on the following two factors: 1. The loc..
From 1983 to 1987, a period of rapid economic growth in the U.S., total savings by contributors to IRAs increased by approximately the amount of their IRA contributions. Does this show that virtually all of their IRA savings were new savings money th..
Assume that initial GDP is $1,000 and we want to expand it to $1,600. Average MPC for the country is 2/3. What should be the new level of government spending if the initial level is $100. Also how much of a tax policy change reach to the same results..
If velocity ?(V) and aggregate output ?(Y) remain constant at $4 and $1,000 billion?, ?respectively, what happens to the price level ?(P) if the money supply? (M) declines from $425 billion to $350 billion?? Originally, what is the price level?
Explicate why one of them brings positive effects to the economy also the other negative effects.
Illustrate and explain the changing demand for Big Mac using indifference curve and budget line.
Wilpen plans to charge a wholesale price of $1.65 per can. As the average value of tennis racket is $110, and average household income of consumer is $24,600.
Consider a Stackelberg game of quantity competition between two firms. Firm 1 is the leader and firm 2 is the follower. Market demand is described by the inverse demand function p = 100 ? 2Q. Each firm has a constant unit cost of production equal to ..
The definition of a price maker is a firm with some power to set the price because the demand curve for its output slopes downward which in effect means those firms with a downward sloping demand curve have some market power.
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