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Q
TVC ($)
10
6,780
20
11,840
30
16,260
40
21,120
50
27,500
60
36,480
70
49,140
80
66,560
90
89,820
100
120,000
Question 1: Identify the range of output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP).Question 2: Current fixed costs for the company equal $9,300. Draw two graphs, both with Q on the horizontal axis: one graph shows TVC and TC, and the other shows AVC, ATC, and MC.Question 3: Suppose that the government imposes a $3,600 property tax hike on all businesses; how will that affect your two graphs; i.e., which cost curves will be affected and how?Question 4: Suppose instead that the government considers your production process to be polluting, and imposes a $94 tax per unit produced (replacing the property tax in the previous question). How does this tax increase compare to the property tax increase, in terms of the effect on your company's cost curves?Question 5: Your boss says "either of these taxes is going to force us to change our production levels." Given what you know about optimization analysis, how would you respond?
What is the effect of an increase in interest rate on the level of consumption in period 0 and period 1? Discuss the economic intuition
Malawi coffee producers come to you and ask for tariff protection from cheap Tanzanian coffee. What sorts of policies will you enact? Explain.
(b) At what level of employment would diminishing returns set in for the variable input (c) If the market determined real wage rate is $20 determine the amount of labor a cost minimizong firm would hire in order to minimize the total of production
Keynesian Economics: Suppose the following about the economy of the United States: Government spending = 660, planned investment (Ip) = 215, autonomous consumption is 200, net exports is 100 and taxes are 100. In addition, for each additional $1..
As illustrated in Figure 8-20, what is structured storage and how are structured storage systems organized? How do structured storage systems compare to RDBMS systems?
If Butterfingers are priced at $6, a second buyer will be priced into the market. Who is that buyer? Label the point at $6 on the demand curve with the name of that buyer.
The first flight after I bought it, I took some friends to Palm Springs for lunch." (Scott Ostler, "Andre Even Flies like a Champ," San Francisco Chronicle, February 8, 1993, C1.) Discuss whether Agassi's statement is reasonable.
Using (13.44) and the choice of numeraire in (13.45), set up the household maximization problem in the form of the current-value Hamiltonian (derive the budget constraint explicitly). Derive the consumption Euler equation (13.46).
The classical approach says that monetary changes directly affect the price level,the Keynesian approach states that changes in money affect the economy only indirectlythrough changes in interest rates and investment.
1. aggregate output is produced with population of workers grows according to capital stock evolves according to and
The foreign country is endowed with 10 workers and has the following marginal productsMPL*TV=2, MPL*K=4. Assume the relative price of TVs under free trade is PTV/PK=3. How many TVs and bushels of kiwi fruit will the Home country produce?
An ice cream vendor sells three flavors: chocolate, strawberry, and vanilla. 45% of the sales are chocolate, while 30% are strawberry, with the rest vanilla flavored.
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