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XYZ is a small leather shoes manufacturing company. The market for the brand of shoes produced by XYZ is highly competitive, currently selling for $100 per pair. XYZ's total and marginal cost functions are as follows: C(Q) = 1,000,000 + 0.01Q2 MC = 0.02Q Where Q is number of pairs of shoes produced per year. a. How many pairs of shoes will the firm produce in order to maximize profit (minimize loss)? b. How much profit (loss) will the firm earn? c. Analyze the firm’s position in terms of the shutdown condition. Should XYZ operate or shut down in the short-run? (Hint: The company’s fixed and variable costs can be derived from the TC equation)
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer). How would you value the goodwill that ..
Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerio’s cereal specifically). how does an increase in price for this good aff..
Suppose the People's Bank of China wishes to peg the rate of exchange of its currency, the Yuan, in terms of the U.S. dollar. In each of the following situations, should it add to or subtract from its dollar foreign exchange reserves? Why?
Interpret the following graph showing the potential changes in supply of money compared to the demand for money. The demand for money is represented by line MD and the initial supply of money is represented by line MS. If there is no change in the in..
What is the profit-maximizing output of the monopolist shown below? What is the monopolist’s markup over the competitive price? Levi’s has an advertising slogan: “Quality never goes out of style.” Consumers can buy other kinds of jeans, including off..
1. is the industry or industries in which the firm operates conducive to abnormally high rates of return?2. does the
Name some of the ways firms attempt to control their costs. Explain Name some of the ways firms attempt to control their costs. Explain how does your firm control costs.
If the interest rate is 8%, determine if the new column should be purchased. Solve by both present worth and annual cash flow analysis methods.
Which of the following stands true of corruption?
When a bank issues a loan, its liabilities and reserves increase by the amount of the loan" on the basis of the following assumptions:
Suppose that the price elasticity of demand for potatoes is -.3 and that the price of potatoes were to drop by 10%. A. What will happen to the quantity of potatoes demanded?
Large-demonic country time deposits $ 304 billion Currency also coin held by nonbanking public 438 billion Checkable deposits 509 billion Small-demonic country time deposits
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