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Fill in the blanks in the following table to answer the questions below.
A TB TC NB MB MC
0 $0 $__ $0
1 ___ ___ 27 35 $____
2 65 ____ ___ ___ $_____
3 85 30 ___ ____ ______
4 ____ ____ 51 ____ 14
5 ____ 60 ____ 8 ____
6 ____ ____ ____ 5 20
a. What is the optimal level of activity in the table above?
b. What is the value of net benefit at the optimal level of activity? Can net benefit be increased by moving to any other level of A? Explain
c. Using the numerical values in the table, comment on the statement, "The optimal level of activity occurs where marginal benefit is closet to marginal cost."
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There have been significant discussions on the government's fiscal policy during the Great Recession. In particular, many did not like the government's actions in salvaging the auto industry in providing guaranteed loans to GM and Chrysler. What is y..
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Determine profit maximization output and price. Show profits and deadweight in the graph
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Should the seniority rule be eliminated, what is MOST likely to gain greater influence over the process of selecting committee chairs.
If income elasticities are equal for all goods, then all Mashallian demand functions must be downward sloping.
A dairy company is considering upgrading an old ice- cream maker. Upgrading is available at two levels: moderate and extensive. Moderate upgrading costs $6, 500 now and yields annual savings of $ 3300 in the first year, $3,000 in the second year, $2,..
A company purchased a piece of equipment 10 years ago for $10,000. They are trying to purchase a similar type of equipment now The old equipment had a capacity of 2,000 units, white the new one has a capacity of 1,000 units The power sizing exponent ..
Suppose you are the economist of Didier Enterprises - a firm that manufactures ballistic missiles. Based on the estimates provided by a consultant, you know that the relevant demand and cost functions for the missiles are Q= 25 -.5P and MC = 2. Assum..
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