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Your firm currently uses 69 workers to produce 300 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is 100 per day. Fixed costs are $2100 per day. What is total cost (TC)? What is average cost (AC)? What is variable cost (VC)? What is average variable cost (AVC)? Is the firm profitable? Should it stay in business in the short run? Should it stay in business in the long run? Show your work and explain your answers.
What are macroeconomic factors and are they useful for economic forecasting? What are economic indicators? Are any of them useful for forecasting economic growth?
What is the resulting deadweight loss relative to the competitive outcome. Compute the Lerner Index for the monopoly described in the question above.
Calculate the net profit or loss (in pounds and dollars) that the investor would have realised on the investment in the shares over the last one month.
What does this imply about the relationship between the elasticity of the product demand curve and the magnitude of the scale effect? What does this imply about the relationship between the elasticity of the product demand curve and the elasticity of..
q1. if a monopolist has an own-price demand elasticity of -.8 is it maximizing profits? explainq2. what are some
You operate a small but popular and profitable restaurant/bar in a college town. Discuss at least two pricing strategies you can use to increase your revenues and analyze them in terms of their ability to generate additional profits.
Suppose John’s preference between goods A and B is represented by a utility function u(xA, xB) = xAxB, where xA, xB are amounts of A, B consumed. Draw qualitatively the indifference of John that has the same level of utility as 40 units of A and 5 un..
The City of Milwaukee is considering suing the manufacturers of handguns and other firearms, on the basis of a “public nuisance.” “Nuisance” is defined under Wisconsin statutes as “any source of filth or cause of sickness.” Does such a lawsuit have m..
Dan and Carla met as employees at a candy company and later married. Carla went on to study accounting and Dan earned a business degree. After working for various businesses and raising $10,000 to open their own business one day, What are the pros an..
Give the plus four 99% confidence interval for the difference between the proportion of athletes using drugs at schools with and without testing.
Capital stock at the end of the year of this economy to remain constant as the beginning of the year, how much investment is needed.
Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
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