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Maximizing the Profit Margin? According to the marginal principle, the firm should choose the quantity of output at which price equals marginal cost. A tempting alternative is to maximize the firm s profit margin, defined as the difference between price and short-run average total cost. Use the firm s short-run cost curves to evaluate this approach. Draw the firm s short-run supply curve and compare it to the supply curve of a firm that maximizes its profit.
Alternitive A: $2,500 initial cost, 10 year economiclife, $500 salvage, $4,500 per year O & M. Buy a new oneevery 10 years Alternitive B: $3,500 initial cost, 20 year economiclife, $500 salvage, $4,000 per year O&M. Buy a new oneevery 20 years.
Dx = Px-2 I1.5 PY1.5. From the information above, what are the values of price elasticity Income elasticity How much will D change if Px is cut by 5% and income rises by 10%
Why do newspapers often support subsidies for professional sport facilities?
A bank is in the process of renegotiating a loan. The principal outstanding is $50 million and is to be paid back in two installments of $25 million each, plus interest of 8 percent.
Illustrate the consumer's opportunity set in a carefully labeled diagram. Show how the consumer's opportunity set changes when the price of good X increases to $10. How does this change alter the market rate of substitution between goods X and Y
How many hours will it take thebullock cart to travel 20 km?
a) If P= 10, what is the value of Co What is the equilibrium of GDP What is the level of consumer expenditures in equilibrium b) Leaving P as a variable, solve for equilibrium Y as a function of the price level
In 1951, Coke used to cost $0.37 for a pack of 6, an average house was worth about $16000, and a car was $1400 to 2200. All these goods are much more expensive now, and yet we buy and consume more of these things today than we did in 1951. Does th..
There are too many fixed gear bikes in Hipsterland and city leaders are looking for ways to reduce the quantity. They are considering policies which would reduce the number of fixed gear bikes. The demand and supply curves for fixed gear bikes in H..
Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change if the price of Coke decreases to 50 cents.
Assume that Milk is perfectly elastically. If there is a $.20 tax on milk, who will bear the burden of the tax Assume producers have the legal incidence. Graphically depict and describe. Shade the loss in consumer's surplus. and deadweight loss.
You are the manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Qsquared, respectively. a. What price-quantity combination maximizes your firm's profits b. Calculate the maximum profits.
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