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A perfectly competitive firm operates in the short-run with labor as its only variable factor. Its production function is: Q = -L3 + 10L2 + 88L where Q is output per week measured in tons and L is the number of workers employed. The weekly wage is $324 and the product sells for $3.24 per ton. (a) At what weekly output is marginal cost equal to average variable cost? (b) What is the minimum product price at which the firm will operate in the short-run? (c) How many workers should the firm employ to maximize profits?
Most large airlines operate networks, or hub-and-spoke systems, which connect many spoke cities (or nodes) with flights to and from a hub airport. A network carrier serves 39 spoke cities from a single hub. How many city-pairs does it serve? How can ..
Assume instead that the industry can sell any also all of its output at the fixed marketplace price of P = 120. Find out the industries optimal output.
The difference between Real GDP and Nominal GDP reflects the degree to which we are achieving the macroeconomic goal of
What is likely to be the effect of such increase in government expenditure on the budget balance for the government and on national debt if there are no other policy changes?
A company plans to start a sinking fund so that it will have money to purchase a new 18-wheeler ten years from now. The cost of the truck is expected to be $200,000 and the company uses an interest rate of 10% per year. If the company makes the first..
A country purchases $3 billion of foreign-produced goods as services and sells $2 billion dollars of domestically produced goods and services of foreign countries. it has?
A company bought a machine with an initial value of $120,000 with life time of 8 years and a salvage value of $12,000, assuming ? =0.60 find the book value at year six using the declining method.
You are Chair of the Federal Reserve Board. In your meeting with the Federal Open Market Committee, the committee unanimously votes to increase the money supply using open market operations (OMOs). During the press conference after the meeting a repo..
q. client 2 is in the express small package industry. limit your recommendation and supporting analysis to 250 words
What are some of the other key roles in the Planning Process.
What is smallest integer price that would make a firm willing to produce a positive amount. Suppose that Dent Carr's long-run total cost of repairing s cars per week.
Imagine that you are part of the marketing management team at Home Plus, a regional discount big-box retailer who competes with Wal-Mart and Target. Home Plus currently focuses on offering a broad range of discount consumer goods, from small home fur..
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