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The table below shows the total cost and revenue of a pharmacy.
Quantity TR TC
0 0 10
1 13 13
2 22 17
3 27 22
4 28 28
5 25 35
a) Use the data to complete table showing the P, MR, ATC, AVC and MC for each output level.
b) Use the data to draw the firm's profit maximizing graph.
c) What is the profit-maximizing level of output and price?
d) Is the firm earning a positive or a negative profit? Show the firm's profit (or loss) on the graph (in part b).
Suppose Uncle Nacho sells shares of Time Warner stock for $20,000 and puts the proceeds from the sale into his money market mutual fund account. What happens to the value of M1 and to M2?
The state if Arizona decided to boost its own minimum wage rate by $1.60/hr. This pushed the wage rate earned by Arizona teenagers above the equilibrium wage rate in the teen labor market.
What are the advantages and disadvantages of a “bailout” for an industry such as financial or automotive? Please give several examples and document any sources/data as appropriate. What is your opinion about government involvement and financial suppo..
The COVID 19 pandemic has been described as the once-in-a-generation global crisis.
Classical economists believe that the demand for money will decline if the _________ decreases, while Keynesian economists believe that the demand for money will decline if the _________ increases.
What effect does expansionary fiscal policy (under flexible exchange rate) have on the supply and demand for dollar in the FX market? What happen to the nominal price of the dollar, export, import and aggregate demand?
Coke also Pepsi have their market dominance for nearly a century. General Motors also Ford have been hard hit by competition.
q1. imagine a simple economy with only two people leroy and percy. if the social welfare function is wul up and the
How much must be deposited in an account to have annual withdrawals of $1000 forever? Interest is compounded quarterly and the interest rate is 9% for the first 10 years and 10% thereafter.
Explain how do you think which these individuals would rank the utility of these similar expenses for themselves.
What are two reasons why there may be a short-run trade-off between unexpected inflation and the unemployment rate. How do each of the following sources of real business cycles would effect the economy:
A decrease in the supply of money with no change in demand for money will lead to a(n) _____ in the equilibrium quantity of money and a _____ in the equilibrium interest rate.
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