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1. A firm's total cost function is given by the equation: TC = 4000 + 5Q + 10Q2.
a. provide expression for each of the following cost concepts:
a. Total Fixed Cost
b. Average Fixed Cost
c. Total Variable Cost
d. Average Variable Cost
e. Average Total Cost
f. Marginal Cost
b. Determine the quantity that minimizes average total cost. Demonstrate that the predicted relationship between marginal cost and average cost holds.
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Use a supply-demand graph to show the implications for the equilibrium prices and quantities of the two flavors of ice cream.
Illustrate what is your opinion and brief description about the microsoft anti trust case. Need your opinion about the outcomeand if the solution was fair
In the lesson presented by Sal on Oligopolies and Monopolistic Competition he creates a two dimensional grid of the market types based on number of competitors and degree of product differentiation. Make sure you view this lesson.
Writing a production function in terms of capital andeffective labor implies that the level of technology increases by 10%, thenumber of workers requiredto achieve the same level of output decreases by 10%.
Answer the next three questions on the basis of the following production possibilies data for Francia and Galacia. All data are in tons.
1. occurs when a firm cuts prices below production costs in a deliberate attempt to drive competitors out of business.
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Suppose the government is running a surplus (rather than a deficit) and aggregate demand is so high that any further increases in spending will cause only inflation, with no increases in production. What should the government do with the extra mon..
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