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A cost study has determined the firm's short-run total cost function as:
TC = $2q2 +$20q + $1000
Calculate SRATC, AFC, AVC, and MC when output is q = 20 units per hour.Calculate the output at which SRATC is minimized and SRATC at that output.
There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $10,000 per mile to set up. How much would it cost to fence a single property whose area is one square mile
The national highway traffic safety administration.raised the average fuel efficiency standard to 35.5 miles per gallon for cars and light trucks by the year 2016. The rules will cost consumers an average of $434 extra per vehicle in the 2012 mode..
She can, however, get insurance that would completely reimburse to her the $100,000 if her ring was stolen. What is the largest premium she would be willing to pay if her U-function is : (i) U = Y1/4 (ii) U = Y4 (iii) U = Y where Y denotes the amo..
A contractor purchases a piece of equipment for $26,000. The equipment requires an average expenditure of $9.25 per hour for fuel and maintenance, and the operator is paid $15.50 per hour to operate the machinery. Find the average cost function.
A man wishes to set aside some money for his daughter's college education. His goal is to have a bank savings account containing an amount equivalent to $20,000 in today's dollars at the girl's 18th birthday. The estimated inflation rate is 8%.
You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years
The marginal cost of providing 25 neighborhood street lamps is $2000. There are 3 people living in the neighborhood. Person 1 is willing to pay $800 for the 25 lamps and person 2 is willing to pay $300 for the 25 street lamps.
What are the highest and lowest payments from the writer that the beekeeper farmer team will accept for the sixth day Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept
If the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange? Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V ..
Vincent van Gogh can produce paintings at constant marginal cost cV V G = 1. The population of buyers of VVG paintings is grouped into two categories: Serious Art Collectors (SAC) and Casual Art Collectors (CAC). The SAC to CAC population ratio is..
i) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the US market (ii) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the ..
Third National Bank is fully loaned up with reserves of $30,000 and demand deposits equal to $100,000. The reserve ratio is 5%. Households deposit $20,000 in currency into the bank. How much excess reserves does the bank now have.
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