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One hundred compressors of 200 H.P. rating are being considered for purchase by the state highway department. The compressor index was 400 five years ago and is 520 today. The cost of 150 H.P. compressors bought five years ago is as follows. For the first 50 compressors, the cost was $2,000 per unit and for the second 50; the cost was $ 2,400 per unit. Find the cost of 100 compressors of 200 H.P. rating today.
Suppose a monopolist producing Q units of output faces the demand curve P =20 -Q. Its total cost when producing Q units of output is TC = F + Q2, where F is a fixed cost. The marginal cost is MC = 2Q. a) For what values of F can a profit-maximizin..
Consider the following information about Adam and Betty who wish to purchase season tickets for football and cricket at the Sydney Cricket Ground: Season ticket for cricket Adam's willingness to pay $100 Betty's willingness to pay $600
Stan Moneymaker needs 15 gallons of gasoline to top off his automobiles's gas tank. If he drives an extra eight miles (round trip) to a gas station on the outskirts of town, stan can save $0.10 per gallon on the price of gasoline. Suppose gasoline..
a labour market in which the supply curve is given by: w= 10 + Ls (where w is the wage rate and Ls is the quantity of labour supplied). Further, assume that the demand for labour is given by w = 100 - Ld (where w is the wage rate and Ld is the qua..
How much interest is payable each year on a loan of $2000 if the interest rate is 10% per year when half of the loan principal will be repaid as a lump sum at the end of four years and the other half will be repaid in one lump-sum amount at the en..
Consider an individual with preferences over consumption c and leisure l given by: u(c,l) = [(c^(1-γ ))/(1-γ)] + al where γ > 0 and a > 0 are constants. She is endowed with h hours of time to divide between working at wage w and leisure. She has no..
The firm believes that AVC varies with the level of output and wages. Alan Anderson, the economist in the research department of the firm, collects monthly data on output (the number of diskettes produced), average variable costs, and wage rates p..
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
What are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the sixth day Assuming that the farmer can dispose of the $7 from the writer as she wishes, what range of payments will the beekeeper accept
Suppose that college students in your tow persuaded the town council to enact a law settings the maximum price for rental housing at $400 per month. Will this help or hurt college students who rent housing In your answer, address how this price ce..
Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC = 2q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC..
5 150 300 6 150 390 Refer to the above data. If the product price is $95 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss How much will the profit or loss be Show all ca..
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