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Question: Bianca bakes delicious cookies. Her total fixed cost is $40 a day, and her average variable cost is $1 a bag. Few people know about Bianca's Cookies, and she is maximizing her profit by selling 10 bags a day for $5 a bag. Bianca thinks that if she spends $50 a day on advertising, she can increase her market share and sell 25 bags a day for $5 a bag.
If Bianca's advertising works as she expects, can she increase her economic profit by advertising?
What happens to market equilibrium, equilibrium prices and quantities; and wages and quantities of resources
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Draw a downward-sloping demand curve and the corresponding marginal revenue curve for a monopolistically competitive firm. Add a marginal cost curve and an average total cost curve so that the firm is in long-run equilibrium. Identify the price it..
In contrast to firms operating in purely competitive industries, demand curves faced by monopolists are less elastic at all levels of output
If the market for retail labour is competitive, explain the potential effect of a union on the wage rates. Draw a graph to illustrate your answer.
Uneven Flow One department of Dallas Instruments Company manufactures basic handheld calculators. Several materials are added at various stages of the process.
How much output should the firm produce in the short-run and what price should the firm charge in the short-run - what are the firm's short-run profits
Consider options on Microsoft stock. Suppose that there are call options with a strike price of $10 and put options with a strike price of $10, both with the expiration date of January 16th. Compute the gross profit (i.e. disregarding option premium)..
Define the simple Keynesian multiplier. Describe why a multiplier exists.
Suppose Brenda"s preferences are such that she always receives three times as much satisfaction from an extra unit of styling as she does from gas mileage. What type of car will Brenda choose?
How has the internet made you "stupid?" i.e., what is something that you do using the internet that you think you can't do without now?
Suppose that the world price of steel is $100 a tonne, India does not trade internationally, and the equilibrium price of steel in India is $60 a tonne.
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