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Suppose the cost, in dollars, of producing x items is C(x) = 100x + 2000/x Determine
(a) the cost of producing 50 items,
(b) the cost of producing the 50th item, the marginal cost when x = 5,
(c) the average cost function,
(d) the average cost of producing 50 items,
(e) estimate the level of production which minimizes the cost and estimate the minimum cost.
Consider a movie theater as a monopolist. There are two groups of moviegoers, students and non-students. The students' demand function for movie tickets is Qs = 200-20ps,160;and the non-students' demand function is Qn = 100- 5pn.
suppose that the distribution of sales within an industry is as shown in the
Suppose the government places a $15 per carton excise tax on cigarettes in an effort to reduce smoking. Cigarette producers are required to pay this tax out of their revenues. Draw the supply and demand graph based on the original supply and deman..
Although Mark continues to teach full-time, he goes to the tennis courts each day after school and practices after fulfilling his duties as an unpaid assistant. During the summer, he spends 12 to 15 hours each day at the tennis courts. In addition..
What explanations have been offered in the press? How accurate are they?
Joe sells vacuums. Given the demand for vacuums at P= 15 - .001Q. Joe faces constant cost of $3 per vacuum and $5,000 fixed cost. What is the dead weight loss given profit maximized out put is 6,000 units and rpice 9$
Would a firm from a small country be more or less likely to be accused of dumping when it exports to a large country (relative to a firm from the large country exporting to the small country)?
Is this an externality, given that you yourself are suffering from slow traffic?
What is trade and down-ward sloping, linear in terms of production?
Do you believe in strict cultural relativism, or do you think anthropologists should pass judgments? Is there a middle ground in this debate, and if so, under what circumstances and using what criteria would you draw the line between the two sides..
(a) What are the equilibrium quantity and equilibrium price Graph your solution. (c) If a $2 excise tax is levied on this good, what will happen to the equilibrium price and quantity. How much tax revenue does the government earn with the $2 tax.
A new gear grinding machine for composite materials has a first cost of P=$100,000 and can be used for a maximum of 3 years. Its salvage value is estimated by the relation S=P(0.85)n, where n is the number of years after purchase. The operating cost ..
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