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Production of a certain good is discrete and has a cost structure characterized as follows:
q
100
150
200
300
400
500
C(q)/q
250
220
190
188
Assume inverse demand is p(Q) = 300 - 0.2Q
a. Find the optimal monopoly output
b. Assume an incumbent monopoly operates according to (a). Is it profitable for a second firm to enter?
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion.
Show the PBC balance sheet. What is PBC's target reserve ratio and how much "bank capital" does PBC currently have? Explain.
Economists says as if economic growth is necessarily a good thing, many question the sustainability and even the morality of ever increasing economic growth.
The late Milton Friedman often wrote that instead of imposing countervailing duties on subsidized foreign goods, the United States should write a note of thanks to foreign taxpayers. Do you agree?
The work involves close cooperation and coordination with other inside and outside of the department. Candidate A has exactly the experience required, but appears to be very unsociable. Candidate A has exactly the experience required.
Which economic system is best suited for handling a crisis of epic proportion (hurricane, flood, blizzard, forest fire, and so forth)? Why? Describe and explain why a socialist system might be the best in responding to the needs of people struck by..
Examine the influence of gasoline prices on the choice of vehicle you selected. Gasoline prices rise and fall dramatically based on economic supply of and demand for crude oil.
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
What are the three Macroeconomic goals? Discuss the framework of Macroeconomics- what model does it use to explain changes in GDP, unemployment, and the price level?
Cash, Accounts Receivable, Office Equipment, Legal Database Subscription, Accounts Payable, Common Stock, Dividends, Legal Fees Earned, Salaries Expense, Rent Expense, and Utilities Expense. Prepare journal entries and record the following October..
Define Supplier-Induced Demand and propose a research study to identify the presence of SID and its effect on the utilization of physician services.
donut ville caters to its retirement population by selling over 10,000 donuts each week. to produce that many donuts weekly, donut ville uses 1,000 pounds of flour, which must be delivered by 5:00 AM every friday morning.
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