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Consider a competitive industry with a large number of firms, all of which have identical cost functions c(y)=y2+1 for y>0 and c(0)=0. Suppose that initially the demand curve for this industry is by D(p)=52-p. (The output of a firm does not have to be an integer number, but the number of firms does have to be an integer.) 1. What is the supply curve of an individual firm? If there are n firms in the industry, what will be the industry supply curve? 2. What is the smallest price at which the product can be sold? 3. What will be the LR equilibrium number of firms in the industry, equilibrium price, equilibrium output of each firm, equilibrium output of the industry?
Calculate the present discounted value of each career path at a discount rate of 5% and at a discount rate of 15%.
evaluate the megatrend of demographics in the it field. give your opinion as to why it managers must understand this
A gasoline station very near a profesional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1000 cars. This year it raised the parking price to $5.00 and parked 850 cars. Did the stat..
given the following supply and demand modelqd a - bp eyo demandqs -c dp fpr supplyqd qs
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 ..
Major improvements in computer information technology and communications in the late 1990s fueled an increase in investment demand in the United States, which is a large open economy.
Is First Amendment free speech protection only afforded to the spoken word? Explain. 2. The 2007 PwC Report suggested three things companies could do to minimize accounting fraud. Discuss these suggestions. 3. Describe the three types of negligence c..
if some auction participants for crude oil field leases have estimates that the oil in the ground is worth 1.2 million
Calculate Alex's income elasticity of demand for bagels and what is the pasta sauce makers' estimate of the cross elasticity of demand for pasta sauce with respect to the price of pasta?
If the government subsidizes private colleges and sets the subsidy so that the efficient number of students will enroll in college, what is the subsidy per student? How many students will enroll?
Assume you can only consume good X and Y out of abudget of $120. Your utility function is U = ln(X)+ln(Y ).
Explain the role of incentives in the market and discuss the government’s use of incentives.
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