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In a competitive market, the market-determined price is $25. For a typical firm producing 10,000 units of output, the firm's average cost reaches its minimum value of $25. Is this firm making the profit-maximizing decision? If not, what should the firm do? No, it is not making the profit-maximizing decision. In the short run, it should reduce its rate of production because its marginal cost is not equal to $25. Yes, it is making the profit-maximizing decision. No, it is not making the profit-maximizing decision. In the short run, it should increase its rate of production because its marginal cost is not equal to $25. No, it is not making the profit-maximizing decision. In the short run, it should reduce its rate of production until its average variable cost is equal to $12.
If the marginal propensity to consume for an economy as a whole is 0.75, what is the simple multiplier equal to? If governments spend 1 billion dollars, how does this translate into a greater than a $1 billion impact on the economy.
In a closed economy the following holds: Household consumption C is given by the consumption function: C = 100 + 0.75Yd Planned investments are I = 250 (independent of Y ). Household disposable income: Yd = Y - T, where Y is production. Taxes depend ..
a. Solve for equilibrium output. Illustrate the equilibrium in the ISLM diagram. What is the value of the multiplier - Now let investment depend on both sales and the interest rate: I=b0+b1Y-b2i b. Solve for the equilibrium output (assume c1+b1
Based on the data in table 14.1, did the dollar depreciate or appreciate against the pound, the Canadian dollar, the france, the yen, and the mark between 1970 and 1980 Between 1980 and 1990 Between 1990 and 2000? Between 2000 and 2011
Kal Tech Engineering is investigating the possibility of acquiring new automated packaging equipment at a cost of $12,000. The equipment will have a salvage value of $1,000 at the end of its useful life of 10 years. It is determined by the plant e..
Assume the demand function and the supply functions for 24-can beer case in Houston are: Demand: QD = 1,000 50P Demand: QS = 40P + 100 (a) What are the market equilibrium price and quantity for beer case What will happen if the Mayor sets a price ..
what is the probability that it will be green?I did take one marble out of the bag; it was red. I set it aside. Now I am going to choose another marble at random. What is the probability that it will be green?
Just The Fax, Inc. (JTF) has hired you as a consultant to analyze the demand for its line of telecommunications devices in 35 different market areas. The available data set includes observations on the number of thousands of units sold by JTF per ..
Suppose that the production is given by Y=A*K^0.5*L^0.5, where Y is GNP, K is capital stock and L is labor. Initially A is equal to 10. If capital is 100 and labor is 400, what is The total amount of output paid to labor
A monopolist produces according to the following demand curve: p=200 - 4Q. Assume that the firm faces a constant marginal cost and constant average total cost of 60 per unit produced. A.calculate the optimal output that this monopolist should produ..
Thomas has found a savings fund that pays interest of 2.62 percent compounded semiannually. He will make monthly deposits of $395 and he can make a deposit only once a month on the agreed payment date. Find the number of deposits Thomas must make.
Touchie MacFeelie publishes comic books. The only inputs he needs are old jokes and cartoonists' labor. His production function is Q = 0.1 * J1/2L Where J is the number of old jokes used, L the number of hours of cartoonists' labor used as inp..
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