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Suppose Microsoft chooses to produce 80 million copies of the software per year and sells copies of the software to retailers at $199 per copy.
Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many copies of Vista they like at the prevailing market price of $200.
If Circuit City sold 2 million copies of Vista, it would earn _________ in revenue. If it sold 4 million copies of Vista, it would earn _______ in revenue.
A. $700 million; $1.2 billion
B. $800 million; $1.2 billion
C. $1.2 billion; $1.5 billion
D. $400 million; $800 million
I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.
Using the results obtained above, derive a table for the long run costs of the various levels of production of sweaters (10, 20, 30, 40). The table should show: quantity, total cost, average cost and marginal cost.
Use an indifference curve-budget line analysis to depict the situations, prior to the ban on smoking, of a student who smoked on campus, and of a student who did not smoke.
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
Mr. Smith is president of a firm that is the industry price leader; that is, it sets the price and other firms sell all they want at that price. The other firms act as perfect competitors.
What is the new equilibrium price and what is the new equilibrium quantity, how many bags were oranges being overproduced before?
Is your explanation consistent with the fact that franchised tutoring services often charge a fixed royalty per student enrolled?
Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.
Why do public goods demonstrate the limitations of a free market economy. they allow consumers to make all of the economic decisions or else.
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- and/or long-term productivity in the U..
If there are diminishing returns to the variable input, will average variable cost necessarily increase with increase in output?
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