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ECO 204 Week 2 Assignment Suppose that in 2008, you became president of a small nonprofit theater company. Your playhouse has 120 seats and a small stage. The actors have national reputations, and demand for tickets is enormous relative to the number of seats available; every performance is sold out months in advance. You are elected because you have demonstrated an ability to raise funds successfully. Describe some of the decisions that you must make in the short run. What might you consider to be your "fixed factor"? What alternative decisions might you be able to make in the long run? Clearly explain the factors to consider as your "fixed factor" and alternative short term and long-term decisions. Submit your analysis in a one to three page paper
Graphically elucidate the derived storage function and carefully explain and show how you determined the location of the two intercepts of the function.
.Compute by how much monetary policymakers mllst change the nominal money supply for the expectations of firms and workers to be realized.
Find out the equation for the linear supply curve which fits this information. What would the new equilibrium price and quantity be if supply were to increase by 20%.
What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month.
What are the short-run equilibrium values of the price level, expected price level, output, and unemployment rate. Illustrate what are the values of cyclical unemployment and unanticipated inflation.
Clarify what happened to the profit maximizing output rate when input costs were increased.
Describe the strategies utilized by the critics of the infant formula companies. Elucidate the concerns of the critics of the formula companies.
Assume 200 videotapes are rented when the price is $4. If the price drops by $.80, the number of videotapes rented increases to 220. Which of the following statements about the non-arc price elasticity of demand is true.
In 2003, when music downloading first took off, Universal Music slashed the prices of CDs from an average of $21 to an average of $15.
Think of any financial innovation in the past ten years
The firm's vice president for manufacturing hires you to out illustrate what combination of inputs the plant should use to produce 20 units of output per period. What advice would you give.
Assume a firm has a patent on one of its products whose sale generates $32,700/year more revenue than production costs. If the annual interest rate is 20 percent, what is the market value of this patent.
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