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A price-taking firm has a short run cost function SC(q) = 3q^2 + 18q + 600
Calculate the profit for this firm if the price is P = 72. Using either an integral or geometry, calculate the producer surplus for the firm at P = 72. Explain how the Producer surplus is related to the profit number.
Varoufakis argues that surplus producing countries like Japan and Germany were key pillars of the success of the “Global Plan” for many years. After a long period of seeming prosperity (“the Japanese economic miracle”) Japan experienced a slowdown in..
Consider an antique auction where bidders have independent private values. There are two bidders, each of whom perceives that valuations are uniformly distributed between $100 and $1,000. One of the bidders is Sue, who knows her own valuation is $200..
Suppose that Rob and Big both raise animals and sell them. Because Rob and Big have different talents, they have varying abilities to raise these animals. In 1 day, Rob can produce either 10 cows or 20 pigs.
The value of cross price elasticity of demand between goods A and B is 0.75, while the cross price elasticity of demand between goods A and C is -1.38. Characterize A & B and A & C as substitutes or complements. Explain why this is the case.
If you invest $1,000 today, how much will it be worth in 20 years? Assume that the money will grow at the interest rates: of 8% compounded semi annually during years 1-10, and 12% compounded quarterly during the remaining years.
q1. write the economic analysis section of a business proposal. this will include statements about the market structure
Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, Show in your..
The seaport town of new monopoly has become extremely popular with shipping companies due to its superior location. The port has become so congested that ship must wait hours every day just to dock this is an example of
Identify each of the following as expansionary fiscal policy, contractionary fiscal policy, not fiscal policy a. taxes are increased to reign in the economy b. the Federal Reserve increases the interest rate paid on reserves in attempt to reign in th..
Elucidate how do the ratios Px*X/I also Py*Y/I change as income increases in this problem.
By spending $20K now, $25K three years from now, and $30K five years from now to upgrade presently owned equipment, a company can increase its annual revenue by $15K in years 1 through 5 and by $18K per year in years 6 through 10. At an interest rate..
q. speedy growth of the nationwide debt alarmed various politicians as well as created pressure for restricting
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