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Q1. The market for apples is perfectly competitive. Say a typical firm has a marginal cost function of MC(q) = 2q.
(1) The optimal quantity of apples to produce is 10 for the typical firm. How much revenue does the firm earn?
(2) In the short run, what condition causes a perfectly competitive firm to shut down? Will a firm remain in the apple business if they are incurring a loss?
Q2. Imagine there is a market for buying monopolies which is perfectly competitive and is at its long run equilibrium. Assume all firms in this market have only two options: run the monopoly themselves or sell it. What is the profit the monopolies will make after they are purchased?
Critically evaluate the following statement: Playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling.
If the number of suppliers in the micro calculator industry increases, illustrate what would we expect to happen.
American rice producers have extremely high production costs, due to some structural problems. Therefore, if not supported by the government, they will not be able to compete with foreign producers. Analyze two supportive policies intended to maintai..
question 1 nbspa group of rogue french farmers has gone on a furious egg breaking rampage destroying tens of thousands
Suppose the market demand function is given by: Q = 100 - 2P , where Q: total quantity, P: market price. And in this market there are two firms with MC=AV=$10. Find each of the following: Perfect competition price, quantity, and consumer surplus? Mon..
What is the maximum monthly payment this person could have to meet the standards?
Now, imagine that you have the power to fix anything; how would you fix the issues mentioned?
You then would choose to calculate a 95% (or another level) confidence interval for the population mean.
In its most recent financial statement, NesslerInc. reported $75, million of net income and $825 million of retained earnings.
In Understanding Capitalism, the analysis focused most on the conflicts between capital and labor over the direction of government economic policy. What about other social conflicts? How has the movement against racism changed government policy? the ..
Prepare a balance sheet for Alaskan Strawberry Corp. as of December 31, 2016, based on the following information: cash = $206,000; patents and copyrights = $860,000; accounts payable = $283,000; accounts receivable = $266,000; tangible net fixed asse..
Analyze the following ideas graphically and explain any fallacies that may be stated. An increase in demand will cause price to rise, with a rise in price, supply will increase and the increase in supply will push price down. Therefore, an increase i..
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