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A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit? b. what is the marginal cost? c. what is its average variable cost? d. is the efficent scale of the firm more than, less than, or equal to 100 units?
Relatively little pollution is emitted initially in the production process, but as the factory is used more intensively, pollution per unit of output increases and Explain how the introduction of this policy will affect the production decision of f..
Suppose You have been employed by an unprofitable company to determine whether it should shut down its unprofitable operation.
What are the profit-maximizing price and quantity? What will be the profits at these price and output levels?
Three fans are to be installed at a mine site; one immediately at a price of $260,000, one in five years at an estimated cost of $310,000 and the third in eight years at a cost of $480,000. Find out the total expenditure as a present value if the ..
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..
A city government is considering increasing the capacity of the current waste-water treatment plant. the estimnated financial data for the project are as follows: Calculate the benefit-cost ratio for this capacity expansion project.
State Khinchine's weak law of large numbers and provide a proof of this result. Discuss conditions under which a law of large numbers exists for a sample of independent but heterogeneously distributed random variables.
Express output per worker (y=Y/L) as a function of capital per worker and the natural rate of unemployment and write an equation that describes the steady state of this economy.
A manufacturing company leases a machine for $31,812 per year. Each unit produced costs $36 in labor and $72 in materials. To break even, 21,000 units must be sold. What is the selling price for the product
A monopolist has demand and cost curves given by: Find out the quantity that maximizes profit? What is the revenue and profit at that point?
What kind of market structure exists for the oil producers (i.e. the ones who pull it out of the ground and ship and sell it as crude oil)? What does this market structure tell us about the pricing
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