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An economist estimated that the cost function of single-product firm is C(Q) = 40 + 9Q + 9Q2 + 9Q3
Based on this information, determine the followings and show all steps ( first, you must define each of the terms and then plug in the numbers to have your answers; not just the answers):
Suppose a firm’s total cost curve can be represented as TC = 15Q2 +8Q + 45 and that marginal cost can be represented by 30Q + 8. What is this firm’s total fixed cost? Find the output level that minimizes average total cost.
The Shopping Channel (TSC) has contracted out the management of its large global network of thousands of computers to Morhel Communications (MC), a network management specialist.
Use the theory of ethical relativism and the Center for American Progress report to consider the recent bans on foreign law. Propose two (2) advantages and two (2) disadvantages of using foreign or international law in legal disputes. Provide a ratio..
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $0.50 per pound, and she has $5.00 that she could possibly spend ob potatoes or other items. Suppose she feels that the first pound of potatoes i..
A tobacco company is interested in hiring a salesperson to promote smoking cigarattes in nightclubs. The position pays a flat salary of $50,000, regardless of sales levels. During their first year on the job, what are the expected sales of Patty and ..
Suppose the welfare benefit formula is. How large is the benefit if wages equal. What is the marginal tax rate on.
Choose the statement about inflation rate targeting that is incorrect
The highway department expects the cost of maintenance for a piece of heavy construction equipment tp be $5000 in year , then increase to $5500 in year 2, and increase $500 annually till year 10. At interest rate 10% per year determine the present wo..
Consider two firms, 1 and 2, each producing an identical good simultaneously. This good has market demand given by the inverse demand function , where is price, and is market quantity. represents the amount produced by firm . Suppose production cost ..
All of the following are assumptions of the theory of comparative advantage, except
A market with demand Q = 10 p is supplied by a monopoly with costs C(Q) = 6 + 2Q. Calculate the equilibrium price, output, and monopoly profits. What would be the equilibrium if the market were supplied competitively by firms, and each firm had the s..
Explain how will my family's consumption of omelets change this week and why. Chickens by the way do not respond to published prices in their decision as to lay eggs.
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