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Q1. Short Run Profit Maximizing
The producer of high-quality flatbed scanners is tiresome to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows: TC = 500,000 + 0.85Q + 0.015Q2 and Q =14,166 - 16.6P. Conclude the short-run profit maximizing price. Apply this information on a graph showing AC, AVC, MC, P and MR.
Q2. Explain the relationship among the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced?
After reviewing efforts to reduce the Deficit, discuss the actions in use by Congress since 1985 to reduce the budget deficits.
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost.
Bob as well as Nancy live in a new housing development as well as they would like to have fire hydrants installed to assist the fire department in case of a fire.
Relative to Tom, does Dick require more bananas, less bananas, or the same number of bananas to give away an apple.
How many DVD's will she have to sell to keep the store open for an extra hour to make profit, if each DVD is $12.
Suppose that only data on in action were published but not on claims for unemployment. What would be a reaction of the USD/EUR in that case.
If policymakers want to reach full employment while maintaining balanced trade, what combination of monetary and fiscal policy should they use.
She says the tax will generate $100,000 tax revenues per month. What assumption is she making.
Could trade help reduce poverty in Brazil and other developing countries. How do product and factor prices and wages eventually equalize between the two countries.
The equations representing demand as well as, inverse demand as well as, supply as well as inverse supply are as follows.
Graph all three curves. What is the relationship between the marginal-cost curve and the average total cost curve
Does the production technology exhibit increasing/decreasing/constant returns to scale.
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