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A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. Does price exceed average variable cost for the first 50 units? What is the average variable cost for the first 50 units? Does price exceed average variable cost for the first 100 units? What is the average variable cost for the first 100 units? What is the marginal cost per unit for the first 50 units? What is the marginal cost for units 51 and higher? $ _____ per unit for subsequent units. For each of the first 50 units, does MR exceed MC? For the units 51 and higher does MR exceed MC? What output level will yield the largest possible profit for this purely competitive firm?
Price Quantity demanded $200 1000 150 1400 100 1800 a. If price falls from $200 to $150, what is the elasticity of demand over this range b. As output increases from 1,000 to 1,400 what is marginal revenue
Assume that the world price of Good A is $8 per unit while its domestic price is $6, and the marginal cost incurred by domestic producers for producing one unit of Good A is $5. If the government imposes a tax of $3 per unit on domestic producers.
A pump has faild in a facility that will be completely replaced in 3 years. A brass pump costing $6000 installed will last 3 years. However, a used staniless steel pump that should last 3 more years has been sitting in the maintenance shope for a ..
An expenditure of $20,000 is made to modify a material-handling system in a small job shop. This modification will result in first-year savings of $2,000, a second-year savings of $4,000, and a savings of $5,000 per year thereafter.
When a recession is over, do people start to immediately feel affects of an efficient economy? Use the experience of most recent recession to justify your answer.
How should the food be allocated if they want to maximise their use/utility If person no. 2 needs a utilitylevel of at least 5 to survive, how should the food be allocated if they still want to maximise their use, without letting person no. 2 die.
1. what is the GDP 2. what is the net domestic product 3. what is the national income 4. if real GDP in a particular year is $80 billion and nominal GDP is $240billion , what is the GDP price index for that year
Danny "Dimes" Donahue is a neighborhood's 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sells 100. At a price of $1.00 each, he sells 300.
A local widgets firm hires you to analyze their cost structure. The firm's industry is nearly perfectly competitive in all requisite characteristics. The company has given you the short run cost functions from existing data: TC=800 +60Q-4.5Q^2+.15Q..
The demand for good X is given by: Qdx= 1,200-1/2Px+1/4Py-8Pz+1/10M Research shows that the prices of related goods are give by Py=$5,900 and Pz=$90, while the average income of individuals consuming this product is M=$55,000.
You estimate the improvements will cause extra monthly expenses of $50 for property taxes, $45 for insurance, and $100 and $200 per month, respectively, in utility and maintenance costs. The life of this project is 15 years at which point the salv..
A city government is considering two types of town dump sanitary systems, as shown below. Select the better system based on BC analysis at 8% social discount rate (same as MARR). Design A Design B Initial investment $400,000 $300,000
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