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From the scenario, assuming Katrina's Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000
P = 50-0.01Q and MR = 50-0.02Q
*Where price is in $ and Q is in kilograms. All answers should be rounded to the nearest whole number.
Algebraically, determine what price Katrina's Candies should charge in order for the company to maximize profit in the short run.
Determine the quantity that would be produced at this price and the maximum profit possible.
The Importance of Economic Indicators on General Election Outcomes in the UK at different stages of a business cycle.
Explain the multiplier intuitively. Why is it that an increase in planned investment of $100 raises equilibrium output by more than $100 Why is the effect on equilibrium output finite How do we know that the multiplier is 1/MPS
The demand function for bicycles in Mapleville is estimated to be Qd = 2,500 + 10Y - 6 P Where Y denotes income in thousands, Qd is the quantity demanded in units, and P is the price of bicycles. When P = $120, Y = 12 What is the price elasticity o..
complete the short-run supply schedule for the firm and indicate the profit or loss incurred at each output *QS/SF= quantity supplied, single firm; *Pr. Or Loss= Profit or Loss; *QS/1500 F= quantity supplied, 1500 firms Price QS/SF Pr. Or Loss QS/..
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Explain any alternative models estimated and how any economically important results differed - Determine whether your results are sensitive to modest changes in the model specification.
Suppose the number of points on an economics midterm (P) can be characterized by the following production function: P = 10H-4B where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.
a large induced-draft fan is needed for an upgraded industrial process. the motor to drive this fan is rated at 100 horsepower, and the motor will operate at full load for 8760 hours per year. the motor's efficiency is 90%.
suppose you are given qs2p and qd120-pa what is equilibrium price and quantity? show the results in graph plot p in the
suppose the inverse demand for a product is q ?p12 10.write the expression for the demand curve i.e. p fq.what kind
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