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Question: A construction company is building an airport that would cost $500 million to build and cost nothing to maintain. The airport sets the price to maximize profit. A Table of the price and number of flights is given.
Does the table provide the demand curve? Is the marginal revenue and the demand curve the same curve?and because it costs nothing to maintain this airport is marginal cost zero?
answer the question on the basis of the following cost data for a purely competitive sellernbspnbspnbspnbspnbspnbspnbsp
Suppose that the profit a Honda dealership makes on selling an Accord is random and is given by the following probability distribution:36% of the time the profit is 800, 26% of the time the profit is 1100; 18% of the time the profit is 1500; and othe..
Suppose it is possible to gain information about the cost so that you will know exactly what the cost will be ($80,000 or $120,000) before submitting a bid. Use a decision tree to find the value of this information.
You have been hired as a consultant for the United Potato Growers. Your research indicates that fresh potatoes have an own price elasticity of -.12 and potatoes in general are -.29.
1. what is the steady state level of capital per effective worker?2. if A grows at rate Ga, and N grows at rate Gn, what is the steady state level of capital per effective worker?3. what are the steady-state growth rates in terms of (Ga + Gn) of: cap..
If union members' median weekly earnings are 20% more than the earnings given in the table, use a matrix operation to find a matrix giving the results.
Explain how labour productivity is determined. In your answer address why human capital is considered to be so vital to lifting labour productivity levels.
A profit maximizing price taker will produce at a level where a. the wage equals the marginal product of labor b.the marginal revenue product of labor equals the price of their output
Sanjay has 100 euros to spend before he flies back to the United States. He wishes to purchase jewelry priced at $160 (U.S.) in a duty-free shop at the airport.
The problem is belongs to economics and it is clarify the pros and cons of forecasted values of inflation using Taylor's Rule of monetary policy are discussed in this answer.
Describe the traditional economic view of a perfectly competitive labor market. What are the key characteristics? Identify at least three supply-side factors that can impact on the availability of labor. Identify at least three demand-side factors th..
In what ways are profit-maximizing and loss minimizing the same? In what ways are they different?
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