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Question: 1. A firm faces the demand schedule q = 40 - p0.5 (where p0.5 ≥ 0, q ≤ 40) and the cost schedule TC = q3 - 2.5q2 + 50q + 16. What price should it charge to maximize profit?
2. Find the MR function corresponding to the demand schedule q = (60 - 2.5p)0.5.
3. What is the point elasticity of demand when price is 20 for the demand schedule p = 45 - 1.5q?
Differences between fictional unemployment, structural unemployment, and cyclical unemployment; and
Determine the equilibrium quantity. Determine the equilibrium price. Graph the supply & demand functions. Remember to graph price on the vertical axis and to graph quantity on the horizontal axis. Label the equilibrium quantity and price on your gr..
An asset for drilling was purchased and placed in service by a petroleum production company. it cost basis is $60,000 and it has an estimated MV of $12,000 at the end of an estimated useful life of 14 years.
In your own words, discuss the relationship among factor markets and product price, production costs and demand for economic resources.
How are the central bank's transactions in the foreign exchange market re?ected in the balance of payments accounts?
Describe, using diagrams where appropriate, the market for rental accommodation before and after the introduction of rent controls.
Make an indifference curve and budget line to analyze the behavior the choice of leisure time and hours of work of employees who are paid:
Do you think the Department of Justice and the Federal Trade Commission would approve a merger between any two of the first three companies listed - What level of output should the firm produce to maximize profits?
Lisa just inherited a vineyard from a distant relative. In good years (when there is no rain during harvest season) she earns R100 000 from the sale of grapes from the vineyard. Calculate the expected value and the variance of Lisa's income from th..
Market demand is p = 540 - q and the market supply equation is p = 60 + 2q. Use this data for the following questions. (The question is in bold bellow) The competitive equilibrium is:? Consumer surplus at this competitive equilibrium is:?
A small monopoly manufacturer of widgets has a constant marginal cost of $20. The demand for this firm's widgets.
Evaluate the validity of using GDP as a measure of economic output. Explain how the consumer price index and GDP work together to measure price index change from year to year.
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