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How do you calculate the marginal revenue in a perfectly competitive market when 20 surfboards are sold, each for $400?
What is the probability of attendance between 39,000 and 45,000? e) What must the attendance be at a game, for that game's attendance to be in the top 1% of all games?
godzilla and macrosoft produce software and operating systems respectively both at marginal cost 10. each firm has
Suppose leather jackets is a substitute in production of leather bealts. A decrease in the price of leather jackets will ________ the equilibrium price of leather belts and _____ the equilibrium quantity of leather belts.
Yolanda is a licensed marriage counselor in Oklahoma and earns an annual salary of $40,000 there. She recently learned that marriage counselors earn $55,000 per year in Kansas, and she is thinking of moving. Assuming that she is only concerned about ..
Consider the EOQ model with fixed lead time L > 0. Show that the average amount of inventory on order is equal to the lead-time demand.
Explain how these allocation methods may affect quantity demanded, equilibrium price, and quantity supplied. Are these allocation methods more or less efficient than other methods?
Discuss the concept of resistance and how employees respond to major change; incorporate information from your own experiences as well as insights you have gained from this module.
Constrained Optimization in Economics 2. Minimize costs for a firm with a cost function Subject to the production quota
Predict what will happen to the economy in the short run if interest rates fall. Predict what will happen to the economy in the short run if firms perceive that the business climate is getting worse.
Draw the extensive-form diagram of the Monty Hall three-door game. In this game, the host (player 1) privately selects an envelope in which to put the prize money (A, B or C). The contestant (player 2) does not observe the host's choice but then must..
Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs.
Given the following Production function: Qp = 100 K-0.5 L12.3 L20.35 Lfor a company whose output is developed by a firm with one capital (K) and two types of labor inputs. Derived the elasticities for each input and interpret your results.
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