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The Murphy Corporation’s marginal cost curve is MC = 4 + 3Q, where MC is the cost (in dollars) of production the Qth unit of its product and Q is the number of units of its product produced per day. The price of a unit of Q is $3. A recent graduate of BECO 4310 is hired by the Murphy Corporation argues that based on this evidence, the firm would make more money by shutting down than by continuing to operate. Do you agree? EXPLAIN AND SHOW ALL CALCULATIONS.
Suppose Roberta's only consumer choice is to pick the optimal amount of blue pens and black pans. No matter what combination of blue and black pens Roberta is holding, she is always willling to give up one black pens for two blue pens. What is a util..
Assuming that the perpetual inventory record is kept in dollars and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?
Recently American Airlines started charging $15 for each checked baggage. Why did the company simply not charge $15 to $20 more per ticket, and quietly avoid this publicity? responses to this topic.
What statistics and linear algebra book do I need before reading Hayashi's Econometrics? Basics linear algebra book seems too simple for the linear algebra part, and Casealla's statistical inference is missing out detail/too basic for the statistical..
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
a profit - maximizing industry in a competitive market is currently producing 100 units of output. Illustrate what is average variable cost.
A Mexican restaurant offers a special menu for children for which there is a choice of a beef taco or a chicken burrito with either french fries, refried beans or a salad, plus one of four beverages. How many special menu possibilities are there?
q1. suppose the number of employed people in an economy is 121166640. the unemployment rate in this economy is 10.4
Case study: loan payments in Great Britain's retail banking sector changes in their operating environment have facilitated greater competition in the British retailing banking sector. Where is the equilibrium price of a loan per customer? Now how man..
What do economists mean when they say that "price floors and ceilings stifle the rationing function of prices and distort resource allocation" Use the ideas of consumer surplus and producer surplus
The world becomes a single market, some new approach must be developed to control the reach of the corporate oligopolies.
At the height of the popularity of high protein diets like the Atkins diet (which encourage larger consumption of meat products at the expense of carbohydrates and sugars), what kind of effect did you expect to see on the equilibrium price and quanti..
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