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Use the following table to perform the tasks below.
Quantity TFC TC TVC AFC ATC AVC MC0 --- --- --- ---1 502 400 200 753 7004 9505 250 2000
a. Fill in the table above. Carry the calculations to one decimal.
b. Assume this is a firm in perfect competition and the average revenue from the sale of 4 items is $100 per item sold. How many items should be produced? Why do you say this?
c. Explain why do the Average Variable Cost curve and the Average Total Cost curve become closer as the quantity increases?
According to the production function, with 300 labor hours, Illustrate what is this economy's capacity to produce.
Compute demand of price elasticity of for natural gas sold to the US.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Now assume that once he earns $400 he loses all his food stamp assistance. How does this change his budget constraint.
If at an interest rate of 7 percent, planned investment is $2 trillion, government spending is $3 trillion, net taxes are $2.8 trillion, and household saving is $2.2 trillion, what is the quantity of funds demanded at an interest rate of 7 percent..
Assuming that the marginal product of labor is constant between 10 also 11 workers also the marginal product of capital is constant between 3 also 4 machines.
Which is a tax on profits generated from mining of iron ore and coal.
Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each.
What would be additional effects follow from this initial effect. What is the total effect of the tax cut on aggregate demand.
Compute the resulting equilibrium price quantity combination for every industry. Illustrate your answer with a suitable graph.
Explain the effects of monetary policies on the economy's production also employment
Make sure that you consider two cases. In the first case, the consumer does not pay any tax before x is reduced, and in the second case, the consumer pays a positive tax before x is reduced.
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