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The market demand curve is QD= 50 - P. The marginal cost curve is MC = 4Q + 6.
a. Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
b. Supposing the marginal cost curve is for only one firm which comprises the entire market, find out the profit-maximizing level of output and price.
c. Compare the two results.
Demand for a managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.00. Write the demand equation for which the price elasticity of demand is zero for all prices.
Assume that macroeconomic forecasters predict that the economy will be expanding in near future. How might managers employ this information
Describe the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs.
Would the accumulation of historical prices and quantities exchanged in the market establish a long-run supply curve? How would the historical relationship differ from how firms (and economists) envision today's long-run supply in the industry?
Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.
In your own words, describe the law of demand through the income and substitution effects, using a price increase as a point of departure for your discussion.
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution.
Compare the path of economic growth using GDP, GDP growth, and GDP per capita. Compare the evolution of Agriculture and Manufacture as components of GDP.
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
Describe the issues, challenges, or disadvantages to forming the strategic alliance (focus on supply chain). Provide an example that is not included in attached reference.
Suppose that you agree with the 16-percent rate of return proposed by the company. What factors need to be considered when setting rates designed to achieve this factor?
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