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Set up a spreadsheet for output (Q), price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), average cost (AC), total profit,. Establish a range for Q from 0 to 1,000 in increments of 100 (i.e., 0, 100, 200, ..., 1,000).
According to the Congressional Budget Office estimates, output was 2.9% below potential output in the 4th quarter of 2014. The unemployment rate was 5.7%. What was the implied natural rate of unemployment?
Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. a. How do you know that the industry is in long run equilibrium? b. Suppose that there is an increase in demand for this product. Show and explain the short-run ad..
Define Medicare and Medicaid, two of the U.S.’s public health care systems, and explain their difference. In the Michael Moore documentary we saw, “Sicko,” a Blue Cross/Blue Shield call center operator told many enrollees they would be denied health ..
Those who use it to make ethanol and those who use it as animal food. Suppose the elasticity of demand differs between these two groups. Is a perfectly competitive corn farmer able to price discriminate? Why or why not?
Hate Manufacturing has agreed to license an industrial process to another firm. That firm will pay $5 million when it licenses the process
Suppose that Clear Vision, Inc., a cable television carrier, has the demand, marginal revenue, total cost and marginal cost functions given below: where Q = the number of cable subscribers and P = the price of basic monthly cable service. If you are ..
Titan Football Manufacturing had the following operating results for 2016: sales = $19,830; cost of goods sold = $13,930; depreciation expense = $2,320; interest expense = $320; dividends paid = $600. At the beginning of the year, net fixed assets we..
Given the debates concerning the use of capital budgeting could you make an argument for the use of capital investments versus the classification as a current
Consider the following cash flow. Determine the annual worth if the minimum attractive rate of return is 9% per year.
The production function is Q=L, and the labor supply curve is w=10+L. How much labor does the firm hire? What wage is paid?
Explain the differences between hypervisor and para-virtualization and give one example VMM (virtual machine monitor), that was built in each of the two.
Suppose the price elasticity of demand for bread is 1.00. If the price of bread falls by 20%, the quantity demanded will increase by: Suppose that a 20% decrease in the price of good Y causes a 20% increase in demand for good X. The coefficient of cr..
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