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Total Total AverageFixed Variable Total Total MarginalQuantity Cost Cost Cost Cost Cost0 $40 0 40 X X1 40 55 95 95 552 40 75 115 57.50 203 40 90 130 43.33 154 40 110 150 37.50 205 40 135 175 35 256 40 170 210 35 357 40 220 260 37.14 508 40 290 330 41.25 70a) At a product price of $72, how many units will this firm produce in the short-run? EXPLAIN. What will be its profits or losses?
b) At a product price of $52, how many units will this firm produce in the short-run? EXPLAIN. What will be its profits or losses?
c) At a product price of $28, how many units will this firm produce in the short-run? EXPLAIN. What will be its profits or losses?
Suppose xt = (1:05)t and yt = (1:02)t. Calculate the growth rate of zt in each of the following cases: a) z = xy b) z = x=y c) z = y=x d) z = x^1/2 y^1/2
Suppose the income of buyers (Y) increases by 10 percent (calculated as change in Y/average Y) and, as a result, the quantity demanded of the good increases by 2 percent (calculated as change in Qd/average Qd). Check the correct statement(s): A. T..
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity, price) points of (100, $20) and (300, $10). (b) Calculate the cross-price elasticity of demand coefficient ..
At its current short-run level of production, a firm's average variable costs equal $20, and its average fixed costs equal $70. Its total costs at its current production level equal $200,000. a. What is the firm's current output level
If Roger could insure himself fully against the loss and the insurance is actuarially fair. d) What is the fair premium for his risk? e) Calculate his utility gain due to insurance. f) What value for the premium (instead of a fair premium would cause..
ASB2505-3505 - Comparative Banking Review the theoretical relationships between market structure and bank performance and explain what is meant by market power and how it affects bank performance.
Your firm designs training materials for computer training classes, and you have just received a request to bid on a contract to produce a complete set of training manuals for an 8-session class. From previous experience, you know that your firm f..
A duopoly faces a market demand of p=120-q. Firm 1 has a constant marginal cost of MC1=20. Firm 2's constant marginal cost is MC2=40. Calculate the output of each firm, market output, and price if there is a Stackelberg equilibrium with firm 1 as t..
What is the effect of the age of the house on its price and calculate the goodness of fit of the equation and What is the interpretation of the coefficient on CA?
Refer to the above data. If the product price is $25 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss How much will the profit or loss be How much will the profit or loss be
Consider the inter-temporal model of consumption of a household who has a first period income of 300 and a second year income of 330. The interest rate is 10%. The household saves 100 in period one. a) Write the budget constraint of period one and..
Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspec..
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