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Suppose a firm assesses its profit function as:
X=profitX= -10-48Q+15Q^2-Q^3
a.) Compute the firm's profit for the output levels of (Q=2, 8, 14)
b.) Drive an expression for the marginal profit.
c.) Compute marginal profit at Q=2, 8, 14.
d.) Confirm that profit is maximized at Q=8, and not Q=2
The table below illustrates values for consumption spending, saving, and planned investment in a closed, private economy. Aggregate Output Consumption Saving Planned Investment Planned Aggregate Unplanned Inventory Change Expenditure (GDP = Y) (C) ..
Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour. What happens to the supply and demand curves.
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We have three variables, Information is 2000-2005. I use OLS to Determine the model and get a standard result.
If twinkies cost $0.10 each and soda costs $0.25 per cup, how should paul spend the $1 his mother gives him to maximize his utility B) If the school tries to discourage Twinkie consumption by increasing the price to $0.40, by how much will Paul's ..
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