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The David Company's demand curve for the company's product is P = 2,000 - 20Q, where P = price and Q = the number sold per month.
Derive the marginal revenue curve for the firm.
At what output is the demand for the firm's product price elastic?
Respond to the following discussionnn post: Money does make the world go around, before there was money it was simply trading goods. However, the growing need of money within our fast growing society has often caused rifts due to greed and wanting po..
Clear Channel, an owner of radio stations with the Top 40 format, recently bought rock concert promoter Live Nation. How would this affect prices for concert tickets or rates for radio programming?
When a perfectly competitive firm (that sells its good for $18 per unit) hires 1 unit of factor X it produces 35 units of output and when it hires 2 units of factor X it produces 55 units of output. Marginal revenue product of the second unit of fact..
What docs Pareto efficiency tell you about the equilibrium price ratio? Calculate the competitive equilibrium, and graph in the budget line and indicate the equilibrium allocation in your sketch.
The US can produce more of almost everything (US has an absolute advantage in the production of almost all commodities). Yet we only produce some and trade with other countries. Why don't we produce everything? What do we gain from trade?
A production process using two inputs, labor and capital, can be written as: Determine the least cost combination of L and K if the firm decides to produce 1,000 tons per day. What is the total cost of producing $1,000 tons per day?
Discuss two distinct ethical issues that you will need to understand and respect as your business expands into your selected country.
GDP calculations do not directly include the economic costs of environmental damage-for example
Suppose in a survey of N = 400 students, 215 responded that they prefer small classes and 185 responded that they prefer large classes. Let p denote the fraction of all students who preferred small classes at the time of the survey, and ˆp be the fra..
Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material.
Suppose XYZ Corporation's stock price rises or falls with equal probability by $35 each month, starting where it ended the previous month. What is the value of a three-month at-the-money European call option on XYZ’s stock if the stock is priced at $..
In this problem, we’ll compare the total-surplus-maximizing advertising level and the equilibrium advertising level in the Grossman and Shapiro model (which we discussed in Wednesday’s class). In terms of X1 and X2, what fraction of consumers receive..
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