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Demand, Supply, Cost, Average Cost and Marginal Cost
The market demand function of a firm is given by 8P + Q - 64 = 0, and the firm's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2.
i)Determine the price and quantity for maximum sales revenue and calculate the maximum revenue.
ii)Determine the price and quantity for minimum marginal costs and calculate the minimum marginal cost.
iii)Determine the price and quantity for maximum profit and calculate the maximum profit.
Article: Why you should worry about big oil. The oil industry is in the business of extracting and selling oil. It is the goal of the oil companies to do this as efficiently as possible.
Aztec depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising-What is Aztec's elasticity of demand for advertising?
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
Select any low income country (or countries) on which you can find data on the following (a web search should yield you the required information)
Suppose the domestic appliances industry faces severe foreign competition, and asks you to prepare a position paper its lobbyist.
Discuss how the economic indicators inflation, employment levels and interest rates,
Which of the following is true for perfect competition, monopolistic competition, and monopoly?
Elucidate your answer also describe terms relevant to elasticity used in your explanation.
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
In providing assistance to the states like Washington has in the past attached strings which have dictated state legislation.
Explain how would you use these cost also revenue estimates to determine whether a sales force increase (or possibly a decrease) is warranted.
Elucidate what are some of the models that predict the effects that reducing protection of imports will have on factor price. Briefly explain the effects shown by these models.
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