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You are the economist of a firm with market power. The inverse demand for your product is given by P= 200 -10Q and your marginal cost is 5 + Q. a. What is the profit-maximizing level of output? b. What is the profit-maximizing price?
To engage in first-degree price discrimination a firm must
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
What are the two arguments for government support of secondary education? What is an external benefit? If there is an external benefit in a market, will the free market equilibrium yield an optimal solution?
What is the relationship between a country’s political/economic environment and risk? What about corruption? Please provide examples to support your post!
Write down a formula that describes the marginal product of labor in the short run as a function of the amount of labor used.
suppose that a big mac costs 5.00 in new york and sf30 in geneva. suppose further that the price of 1sf on that day is
Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food?..
How do you think production possibilities and storage possibilities influence the price elasticity of supply of long grain rice?
What are the potential consequences of a country having a large overall debt? If you were in the position to implement a solution for the country's long-term debt, what would it be and why?
Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q. What is the variable cost function? What is the average variable cost function? What is the average cost functio..
Classify the following goods by category (private, public, common, monopoly) and explain why:
Discuss within your Learning Team how and why the U.S.’s deficit, surplus and debt have an effect on the following:
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