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If the total cost of producing x toaster-ovens is given by the formula C1x2 = 40 + 12x + 0.2x2 find the approximate cost of producing the 30th toaster-oven.
Derive GGC's marginal revenue (MR) and marginal cost (MC) curves in each market. Show graphically GGC's demand, MR, and MC curves for each market.
a) Calculate the coefficients for price, advertising, income and cross-price with soda pop. b) If the current company cost for a bag of popcorn is $0.45, including cost of corn, cost to pop it and the bag, is this the profit maximizing price?
There are three goods in the consumer basket. The fixed quantities are these goods, which the consumer buys, are as follows: Food=60 units, Movies=40 units, and Clothing=90 units. Over a four-year period, the prices of these goods.
Demand function: qd=5,000-50p, where qd is quantity demanded and p is price per unit. A. How man units with be demanded between $10, and 20 Between $20 and 30 B. What is the arc price elasticity of demand $10, and 20? Between $20 and 30 C. What is th..
Draw the firm s short-run supply curve and compare it to the shortrun supply curve of a profit-maximizing firm.
calculate the size of the labor force, the labor force participation rate, and the unemployment rate by using population:100,000 Employed:60,000 Unemployed:3,000
it is projected to increase next year by 2%, then decrease by 3% in the following year, and then increase by 5% the third year. What is the average inflation rate for the projected price of coffee over the next 3 years
Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following: 1.Compute the price elasticity of demand ..
Compute the least-squares line for predicting ln y from t . Plot the residuals versus the fitted values.
An office manager is concerned with declining productivity. Despite the fact that she regularly monitors her clerical staff four times each day (9am, 11am, 1pm and 3pm) office productivity has declined 30% since she assumed the helm one year ago.
Suppose that two firms compete in quantities (Cournot) in a market in which demand is described by P = 260 - 2Q. Each firm incurs no fixed costs but has a constant marginal cost of 20. Suppose that after the cartel is established, one firm decides ..
Tad's bait shop has a monopoly on the bait market at Sanderson's Lake. The demand curve for bait is QD = 56 - 8P -> P = 7 - 18 QD. This implies the marginal revenue function is: MR(Q) = 7 - 14 Q. Tad has two employees he can use to search for bait..
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