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The average variable cost equation for the competitive firm is:
AVC = 10 - 2Q + 0.5Q^2
1. At what output is AVC at minimum?
2. If the market price of firm's output is $7 per unit, should the firm produce or shut down?
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for soft drinks?
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Explain the process for obtaining an annual filing report for a corporation currently registered in California
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Tetrangle Manufacturing has fixed costs of $2,160 per day. The firm manufactures bicycle component upgrade kits. What is the breakeven level of daily output for the firm?
Evaluate the money multiplier? The central bank decides to increase the money supply (M1) by $200 million through an open market operation. How much should it buy in bonds?
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
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What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
Describe why the results of computing cross-price elasticity can be useful in determining product relationships. In your explanation, contrast the different numerical values of cross-price elasticity and what each value indicates.
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