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Suppose Atlas Publishing, a perfectly competitive firm, currently produces 2,000 maps per day at a total cost of $1,600. At its current level of output, Atlas is producing where the marginal revenue curve intersects a rising marginal-cost curve. Which of the following can be concluded about Atlas Publishing?
Select one: a. It should produce more to maximize profit. b. It should produce more to break-even. c. It is maximizing losses. d. It is maximizing profit. e. It should produce less to maximize profit.
He projects that his costs also revenue will be similar this year if he continues farming. Illustrate what is Bowen's accounting profit from farming an additional year.
Suppose that 3% of the employed lose their jobs each month and 15% of the unemployed find a job each month, what is the steady-state rate of unemployment?
A firm sells its product in a perfectly competitive market where other firms charge a price of $130 per unit. The firm’s total costs are C(Q) = 40 + 10Q + 2Q2. How much output should the firm produce in the short run...How many units?What price shoul..
You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your product is better than the competition.If this legislation is passed, by how much should you expect your profits to chang..
Explain in detail the concept of excess burden (or welfare cost) and explain the factors significant in the calculation of the excess burden. What is the marginal excess burden and why is it important concept for policy evaluation?
Many small companies use accounts receivable as collateral to borrow money for continuing operations and meeting payrolls. If a company borrows $230,000 now at an interest rate of 16.00% per month, but the rate changes to 18.00% per month after 6 mon..
A college raises its annual tuition from $28,000 to $30,000 and its student enrolment falls from 4,877 to 4,715. Compute the price elasticity of demand. Is demand elastic or inelastic? Explain and show your work.
If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.
Some employers no longer consider a prospective employee's grade point average as a useful signal. Why might this be the case? because it is not fair to the students who put in a lot of effort and still get bad grades
How does virtue theory apply to both the decision maker and the act under consideration by that party? Explain.
The recent immigration of labor into the United States from Mexico has led to increased calls for new restrictions on this movement of labor (including greater enforcement of existing restrictions). What would be the costs and benefits to the United ..
You’re fairly well up the food chain at the U.S. EPA in the summer of 2015 (you got fast-tracked as a result of all you learned in your Spring 2015 environmental economics course) and have been asked to put together a set of policies to protect ecosy..
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