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Use your quadratic cost function and the following demand curve.
Q = 30,000 - 33.3 P
Graph price (P) and marginal revenue (MR) as a function of output on the graph in Part 8 above. Show the price and output that maximizes profit in this graph. Then use math to calculate the price and output that will maximize the firm's profit. Calculate your profits at this price and output level.
Graph price (P) and marginal revenue (MR) as a function of output on the graph in Part 8 above. Show the price and output that maximizes profit in this graph. Then use math to calculate the price and output that will maximize the firm's profit. Calculate your profits at this price and output level. P = 900.90 - 0.0300Q
Explain how the distinction between expected and unexpected inflation is important to the distributional effects of inflation.
Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?
What distinguishes money from other assets in the economy? What are demand deposits, and why should they be included in the stock of money?
Explain why both marginal and average costs are believed to eventually increase in the short run.
RainAway, Inc., makes polymers used to coat the windshields of car's, planes, and boats-Complete the following table based on the RainAway product's price, output and costs per year:
Pawel spends half of the year working in Britain where he consumes British food q and half of the year in Poland where he consumes Polish food Q.
What happens to the demand for pizza if the price of that product decreases? What happens to the supply of tomatoes if the wages of tomato pickers increase?
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function
Compare and contrast the strengths and weaknesses of today's Federal Reserve operating procedures and monetary decision making policy.
Draw a bowed-out production possibilities curve (PPC or PPF) with an aggregate measure of medical services, Q, on the horizontal axis and an aggregate measure of all other goods (and services), Z, on the vertical axis.
Using algebra find out the effects of this change in cost on profit maximizing output and the optimal profit.
The demand for polished bronze is given by P = 100 - Q/2. Production of polished bronze is controlled by Bronze Indentify BIs profit maximizing output and price. What is the cost to the town of removing the mercury pollution?
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