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1. Suppose the demand for baseballs is given by Q = 200 - 8P.
a. waht is the price elasticity of demand when P=6?
b. at what price will total revenue be maximized?
c. what is the firm's marginal revenue when the price is $10?
2. Suppose there are n identical firms in a market. each firm's cost function is given by C= 240+14q^2, where q is the amount that an individual firm produces. this means that an individual firm's marginal cost is given by MC = 30q. Also, the market demand is given by P = 504 - 8Q, where Q is the total amount of the good produced by all of the firms combined. therefore, Q= n*q.
a. how much output will each of them produce?
b. what will be the market price?
c. how many firms will there be in long run equilibrium?
If the government of Amityville used a subsidy of $S per unit to encourage the optimal amount of chocolate production, illustrate what level should that subsidy be.
Provide an update on the economy-where is unemployment, what is the outlook for the deficit, what are the overall predictions for 2010 - 2012?
Illustrate what trends do you see in the data sets. What would you say to Support your assertions of trends with statistical evidence.
Why has the Federal Reserve selected this policy at this time? What efects does the Federal Reserve expect this policy to have on the U.S. economy?
The Congressional Budget Office (CBO) on August 25, 2009 estimated that the accumulated deficit from 2010-19 will approximate $7.137 trillion.
Does the structure of global economy permit poor nations to catch up with rich ones? Is the Solow model a useful framework for understanding whether poor nations tend to catch up with rich ones?
What is the impact of this on the revenues of the networks also why.
Efficiency and sustainability are management goals with respect to renewable resources. As Field explains, biological and economic considerations are typically blended in determining the efficient allocation of these resources.
Describe the market structure in which the selected good or service competes. Discuss the implications of the market structure on pricing.
Explain how many popsicles will be sold every day in the short run if the price rises to $2 each. In the long run, if the price rises to $2 each.
Rise in customers income will make increase in the quantity demanded.
Indicate 5-of the world's economies that are the most free. How do income levels and growth rates of freer economies compare with the that are less free?
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