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AVC = 4832 – 0.5(Q) + 0.00007(Q)2
At what quantity is AVC minimized Suppose this firm sells 3500 units per month at a price of $4000.00 each and has fixed costs of $10,000 per month. What is the firm’s monthly profit? Suppose this firm operates in a perfectly competitive market. Is it producing the profit maximizing quantity for the current price? Why or Why not?
Consider the combined Solow-Romer model (i.e., there are both capital and idea stocks) that we worked through. Suppose the economy begins on a balanced growth path in the year 2000. Then in 2030, the depreciation rate ¯d rises permanently to a higher..
Do you think that a firm's market structure can change overtime? What happens to alter the market structure the firm competes in? Has the market structure your firm is in changed? Will it change in the future? Explain using examples.
An intraocular lens manufacturing is in the qualification process of a polishing machine.
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In the long run, a recessionary gap means that:
The following questions refer to the following graph of a consumer's indifference curve. What is the consumer's marginal rate of substitution between points A and C? What is the consumer's marginal rate of substitution between points C and B?
Andy purchases only two goods, apples (q1) and kumquats (q2). He has an income of $40 and can buy apples at $2 per pound and kumquats at $4 per pound. His utility function is U(q1,q2)=3(q1)+ 5(q2). What is his marginal utility for apples and what is ..
Two factors determine the legal reserves that a commercial bank must hold by law.
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When can an employee’s religious belief qualify as a bona fide occupational qualification? Do you believe religious hiring is BFOQ? Can a person claim to be discriminated against because of his or her spouse's national origin? Multimatrix, Inc., has ..
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