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Suppose that each firm in a competitive pizza market has the following identical cost:
Total cost: TC=25+1.5Q2
i. Formulate the equation or level of fixed cost, variable cost, marginal cost, average variable cost (AVC) and average total cost (ATC) for each firm.
ii. Sketch a diagram to illustrate average total cost (ATC) and marginal cost (MC) for Q from 1 to 20. Identify the quantity at which the average total cost (ATC) reaches its minimum and interpret its economic or business implication.
iii. An innovation was diffused widely among all firms in the market. Adoption of this innovation will help to reduce 20% of the variable cost for any given level of production while all other factors remain the same. A firm needs to pay a fee of $5 to adopt the innovation. Formulate the new production cost functions (TC, TFC, TVC, ATC and MC) for each firm.
Sketch a supply-demand diagram of the US Treasury bond market to illustrate the effects on it of the developments cited in part A. Label your diagram clearly.
Which of the following two bonds is more price sensitive to changes in interest rate? A zero coupon bond, Y, with 5-year-to-maturity and 10% yield-to-maturity. Both have the same sensitivity because they have the same yield to maturity.
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A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at the end..
The process of lending and relending creates money throughout the banking system. As a result of Ellen's deposit, how much money, in the form of deposits
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What rate of return should investors expect (and require) on this fund?
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