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You've been appointed by an unprofitable firm to determine whether it should shut down its unprofitable operation.The firm currently employs 70 workers to produce 300 units of output per day. The daily wage(per worker) is $100 and the price of the firm's output is $30.The cost of other variable input is $500 per day.
Although you don't know the firm's fixed cost, you know that it is high enough that the firm's total cost exceeds its total revenue.
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
Stock registers an unexpected price decrease, Evaluate the value of your delta-hedged portfolio.
Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7-Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?
Assume that the demand changes to QD = 600-2P and the supply function stays the same. Graph the new situation in Excel. Find the new equilibrium price and quantity, and show it on your graph.
Many retail companies use mark up pricing? Setting price some percentage above variable cost (such as 50% above cost).
Compute the marginal product of labor when 9 units of labor are utilized. Assume the firm can hire labor at a wage of $10/hr and output can be sold at a price of $100 per unit. Determine the profit maximizing levels of labor and output.
Assume the firm can produce 5000 units of out put by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing 5000 units of output?
How does competition affect profits and prices? What causes some firms to enter an industry, and others to leave it?
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
If the goal of the transit authority was to maximize total revenues, what is the new price it should set? Also, what would the total revenue raised in this new price scheme?
Prepare a 700-1,400-word paper explaining a company that has made the strategic decision based upon productivity, wages and benefits, and other fixed and variable costs. Examine the decision and its expected outcomes.
Suppose your product is Wendy's hamburgers. First "draw" the demand and suppy curve and see how the equilibrium price and quantity is determeined.
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