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A 2006 Duke University graduate inherited her mother's printing company. The capital stock of the firm consists of three machines of various vintages, all in excellent condition. All machines can be running at the same time. COST OF PRINTING AND BINDING PER BOOK MAXIMUM TOTAL CAPACITY (BOOKS) PER MONTH MACHINE 1 $1.00 100 MACHINE 2 $2.00 200 MACHINE 3 $3.00 300
a) Assume that "cost of printing and binding per book" includes all labor and materials, including the owner's own wages. Assume further that Mom signed a long-term contract ( 50 years) with a service company to keep the machines in good repair for a fixed fee of $100 per month. (1) Derive the firm's marginal cost curve. (2) Derive the firm's total cost curve.
b) At a price of $2.50, how many books would the company produce? What would the total revenues, total costs, and total profits be?
anderson county has 35 older-model school buses that will be salvaged for $5,000 each. these buses cost $144,000 per year for fuel and maintenance. now the county will purchase 35 new school buses for $ 40,000 each.
When you were born, your grandfather established a trust fund for you in the cayman islands. The account has been earning interest at the rate of 10% per year. If this account will be worth $100,0000 on your 25th birthday, how much did your grandf..
claimed that if z+x/y, then g(z) = g(x)-g(y), where g(.) represent the growth rate of the variable in question. Prove this result in a formal way using two methods. First, repeat the method that we used in class to prove that if z = xy, then g(z)=g..
A researcher is interested in estimating the salary of management majors. it is known that the population of salary offers is normally distributed with a standard deviation of 4(in thousands of dollars). the sample yields a sample mean of 50. 1. c..
women and selected minorities are systematically excluded from high-paying occupations and crowded into low-paying occupations, decreasing their wages and reducing domestic output. B. employers having high discrimination coefficients will be crowde..
The value of the marginal product of labor (VMPL=p*MPL) in the local saw mill is VMPL = 20 - 0.5L, where L = the number of workers. If the wage of saw mill workers is $10 per hour, then how many workers will the mill hire
On the other hand, the Iceland Planning Commission has determined that five refrigerator suppliers would be sufficiently competitive to bring price into equality with average cost. The five-firm equilibrium would yield a price of $100 and a total ..
suppose the marginal cost of a television is $100 the annual demand for the television set its given by the equation Q=200,000-500(p) question: suppose television sets are banned calculate the loss in consumer surplus as a result of this action
Two firms, Rattler and Sidewinder, produce and sell snakeskin cowboy boots. The following payoff table represents profits in millions of dollars for a simultaneous pricing decision between the two firms.
The following relations describe the supply and demand for posters. Qd = 65,000 - 10,000 P Qs = -35,000 + 15,000P Where Q is the quantity and P is the price of a poster, in dollars. a. Complete the following table. Price Qs Qd Surplus or Shortage
ADVANCED ANALYSIS Assume the following values for Figures 5.4a and Figures 5.4b. Q1 = 20 bags. Q2 = 15 bags. Q3 = 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is ..
Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all thre..
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