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The profit-maximizing firm is operating in a perfectly competitive market where the market price is $100 and the marginal cost curve is determined by the equation MC = 20 + 10Q. What is the output for the firm?
What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1." Although all other forms of money include cash, M1..
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the equilibrium price and quantity in this market.
Illustrate what were the major factors that have affected US household consumption While the recession in 2001
Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing firm adjust its mix of workers and hours-per-worker in response to [ceteris paribus]: (a) A new..
q1. a luxury good is a good for which the income elasticity exceeds one. the demand for a luxury good is given by qd x
Suppose that the US in a steady state and that capital per worker in the US is equal to k*=10. The following picture shows the steady state of the US economy.Suppose a devastating hurricane hits the economy destroying 10 % of the capital stock so tha..
Damage to the parked car was $5,400, and damage to the store was $12,650. What amount will the insurance company pay for the damages. What amount will Kurt have to pay?
The economists also argued that the technical level of potential output had risen. Show their argument using the AD-AS model
Think of another good that you have purchased recently Be specific (e.g. is it breakfast cereal in general or Cheerio’s cereal specifically). If the price of this item increases, how would this affect the quantity of the good that you consume? Would ..
Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?
Prevailing market cost is $15. Illustrate what will happen to number of industries in industry and to industry's output in long run.
The table below shows a monopolist’s demand curve and the cost information for the production of its good. What will their profits equal? Quantity: 10,20,30,40 Price per unit: 100,80,60,40,20 Total Cost: 100,400,800,1400,2400
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