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Consider the graph below. It contains 2 separate demand curves, D1 and D2, the marginal revenue curve associated with each one, MR1 and MR2, a total marginal revenue curve, MRT, along with marginal cost. (You might want to look at page 586 in your book to get another example, only in that one the total marginal revenue curve is placed on the graph on the right...)
a. What is the TOTAL amount of output the firm should produce?
b. Approximately how much output should the firm allocate to market 1?
c. Approximately how much output should the firm allocate to market 2?
d. What is the approximate price that will be charged in market 1?
e. What is the approximate price that will be charged in market 2?
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
1. How do the federal rules of evidence address the originality of computer data in relation to the best evidence rule 2. Are the hearsay rules applied differently in cases of computer related evidence
What is the law of diminishing returns? Can you provide an example of when diminishing returns have set in (could set in) at a work place?
Explain your question and receive the step-by-step response ASAP. Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work.
An explanation about Marshallian money graph. Consider the case of two goods: Marshallian money y and good x. Let y be the numeraire good, so the price of y is py = 1. Let Px denote the price of good x. The initial endowment of money is M. And..
Assume a firm's production function is given by Q = 12L - L^2 for L = 0 to 6, where L is labour input per day and Q is output per day. Derive and draw the firm's demand for labour curve if output sells for $10 in competitive market.
You are a factory owner who has just purchased a new machine for $5,000. Over the next year, it would have cost you $1,000 to rent this same machine. If the machine sells for $5,000 one year from now, what is the rate of return on this asset?
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Describe how the market economic system works to answer fundamental economic questions. Describe how this may differ from a command economic system.
The chair-making industry currently consists of 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where Q is the annual output of a firm. Only $200 of each firm's fixed cost is sunk. The market demand cur..
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