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Price Quantity Demanded (per week) Marginal Cost Total Revenue Marginal Revenue Fixed Cost Total Cost $60 1 $50 $60 $60 $40 $90 55 2 20 110 50 40 110 50 3 24 150 40 40 134 45 4 29 180 30 40 163 40 5 35 200 20 40 198 35 6 45 210 10 40 243 According to this chart how do you answer the following questions a. Assuming you are currently charging $55 per table set, what should you do if you want to maximize profits? b. Given the demand and cost estimates, what price should you change if you want to maximize your weekly profit?What output should you produce? What is your weekly profit? Answers
discuss how well each company meets your criteria. Also, rank the three companies based off this information and discuss which one is your top choice and why.
If all firms, existing and potential new entrants face decreasing industry costs in the long run under perfect competition, the industry supply curve will:
questionnbsp part a the table shows the demand and supply schedules for low-cost housing.rent per
Describe ways in which bank regulators manage the moral hazard from the various protections given to the banking industry. Suppose you are graduating and your rich Uncle makes you an offer. You can accept $5,000 from him today or wait 3 years and rec..
why might the organization need to modify their existing code of ethics? consider how you might modify the code of you
A firm operating under monopolistic competition - a price maker - is facing an unexpected inventory build up due to a weakening national economy. How does this firm allocate output between its several plants? How is the selling price determined at th..
An economy has a consumption function of C= 10 + .8Y, investment of 6, government expenditure of 10, exports of 10, and an import function of M=.1Y What is the multiplier for this economy?
Describe considerations for undertaking macroeconomic stabilization policy including understanding the use and effectiveness of fiscal policy and monetary policy in stabilizing the national economy.
At what number of workers will you first experience diminishing returns? At what level of employment will total output be maximized with this plant size?
"Assume a perfectly competitive market is initially in long-run equilibrium. In the short run, a decrease in raw materials prices will cause the firm's average costs to ________. As a result, the profits of existing firms will ________.
write a six to eight 6-8 page paper in which you1.describe the project scope and project management plan. align your
During the last three decades entrepreneurs like Michael Dell, Sam Walton, and Ted Turner earned billions of dollars. Do you think the average American is better or worse off as the result of the economic activities of these individuals? Explain your..
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