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A perfectly competitive firm faces a market price of $10 for its output X. It owns two plants A and B whose total costs are:
TCA = 10 + 2X + .25X2
TCB = 15 + .4X + .1X2= 15 +4 + 10= 29
How many units should each plant produce to maximize profit at that price?
Assume the following about Mushroom Kingdom: there are 16869 gold coins in circulation, nominal GDP is 86722 gold coins, the Central Bank of Mushroom Kingdom increases the number of gold coins in circulation by 2.4% each year, and GDP increases by..
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The demand for Wanderlust Travel Services (X) is estimated to be Qx = 22,000 - 2.5Px + 4Py - 1M + 1.5Ax, where Ax represents the amount of advertising spent on X and the other variables have their usual interpretations. Suppose the price of good X..
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the origin and do not intersect the axes. The price of sushi is $10 and the price of soy milk is $2. She is spending all her income at the basket she is currently consuming, and her marginal rate of substitution of sushi for soy milk is 4. Is she ..
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