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The American Baker's Association reports that annual sales of bakery goods last year rose 15, driven by a 50% increase in the demand for bran muffins. Most of the increase was attributed to a report that diets rich in bran help prevent certain types of cancer. You are the manager of a bakery that produces and packages gourmet bran muffins and you currently sell bran muffins in packages of 3. however, as a result of this new report, a typical consumer's inverse demand for your bran muffins is now P=6-0.5Q
If your cost of producing bran muffins is C(Q)=.5Q, determine the optimal number of bran muffins to sell in a single package and the optimal package price
optimal package size= _______units
optimal package price= $______
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
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1.nbspnbsp briefly define the following termsa.nbspnbspnbsp potential gdpb.nbspnbspnbsp long-run aggregate
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of d..
short run profit maximization a monopolistically competitive firm faces the following demand and cost structure in the
It is often suggested that the Federal Reserve try to achieve zero inflation. If we assume that velocity is constant does this zero-inflation goal require that the rate of money growyh equal zero? If yes, explain why . If no, explain what the rate of..
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Illustrate what are the different types of exchange rate, their advantages and disadvantages.
1. use the four quadrant diagram of the classical model with the production function to determinea the effect of a
After choosing the topic do the article review which includes following steps a. a short summary that clearly covers all of the fey elements in the article. this summary must show that you carefully read and understood the content of the article.
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