Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose that a perfectly competitive firms’ Total Cost function is given by: SRTC(q) = 50 + 80q –10q2 + .6q3 a. What is fixed cost equal to? What is Variable Cost equal to? b. What is Marginal Cost equal to? What is Average Variable Cost equal to? c. Find an equation for the inverse supply curve of the firm. Hint: the supply curve presumes profit maximizing outputs at any market price. d. Below which market price (a number) will this firm choose to produce 0 output? e. Choose a market price that is between Average Cost and Average Variable Cost. Will the firm choose to produce a positive output level? Depict this output level in a graph that includes all the appropriate curves. Explain verbally (and with numbers) why this firm would choose to produce the output you chose. f. What does it mean by a firm to be a price taker? What is the implication of this for the individual firms’ demand curve? You must also mention in your answer the term elasticity (correctly of course). g. If the firm’s cost curve shifted down, what would this do to the firm’s supply curve? Justify your answer with an example using the short run total cost curve above.
Suppose that firms become more optimistic about their future profits. Using the AD-AS model (with a Keynesian perspective), In the absence of any policy intervention, what will happen to prices and output over the short- and long-run? What will happ..
College-logo t-shirts priced at $15 sell at a rate of 25 per week, but when the book store marks them down to $10, it finds that it can sell 50 t-shirts peer week. what is the price elasticity of demand for the logo t-shirts?
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next-best alternative. What example would you pose to explain this?
The consumption function assumes that
Suppose that a monopolist sells a product to consumers with an aggregate demand that is downward sloping in quantity, D(Q) = 200 − 2Q. The total cost of producing Q units is C(Q) = 20Q + 2Q2. What are the consumer and producer surpluses (CS and PS) a..
Today more workers in the US are members of labor unions than any time in our history. Today labor unions are weaker than any time in the last 100 years. No major labor union has called a strike since the 1940s. Labor unions are relatively strong in ..
Alex earns $85,000 per year and decides to invest 12% of his salary in a savings account with a return of 7% at the end of each period for 10 years for future use. a)If his salary increases by 2.5% every year, What would the future worth of his inves..
In 2010, and 2011, the government of Greece risked defaulting on its debt due to a severe budget crisis. Using bond market graphs as shown in class show the effect on the risk premium between U.S. Treasury debt and comparable maturity Greek debt. Ple..
They value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign.
Rumors and discussions lead me to believe that the fed will increase interest rates early this fall. I've also heard and read that we NEED to increase our rates now to be prepared for the next economic down-turn. What does this all mean? How will thi..
Among which of the following could not bar entry into an industry. Firms prevent collusion among firms regulate natural monopolies correct the outcomes of positive and negative externalities in private markets.
Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by dropping this requirement?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd