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Graphically show the following firm situation:
a. Show the short run profit graph for a firm subject to some market demand. Depict the production decision point, the price and quantity the firm will operate at and the areas that make up the firms total revenue, total cost, and profit. For “a” you can assume a unitary demand curve and that the firm makes a short run profit.
b. In a separate graph, show a firm that is having to incur a short run loss. Include the production decision point, the price and quantity the firm will operate at, and the areas that make up the firms total revenue, total cost, and loss. You should also include a function (curve) to show at what price our firm would shutdown and leave the market at when producing the same Q* number of units. You can just label the point the shutdown point.
For the following production functions: calculate marginal product of labor (L), marginal product of capital (K), and the technical rate of substitution. Identify if the production function exhibits constant, increasing, or decreasing returns to scal..
Success of Employment Applications in Ohio during the Gentleman's Recession and chart displays the ratio of job placements to seekers, for the total of men and women in all five cities, juxtaposed against the business cycle indicators.
What are the economic and political arguments for regional economic integration? Given these arguments, why don't we see more substantial examples of integration in the world economy?
An airline loses money on one of its routes but has decided to continue to provide service. Could this decision be economically rational in the short-run? In the long-run?
q1. you bought two new cds with the last 30 in your checking account and your next payday is on monday. what is the
Political Instability Abroad Suppose that political instability in other countries makes people fear for the value of their assets in these countries so that they desire to purchase more U.S assets. Refer to Political Instability Abroad. What would t..
A monopolist sells music CDs. It has a constant marginal and average cost of $20. It faces two groups of potential customers: honest and dishonest customers. Given that the marginal cost is constant and equal to the average cost, does the monopolist ..
An individual’s demand for physician office visits per year is Q = 10 (1/20)P, where P is the price of an office visit. The marginal cost of producing an office visit is $120. (a) Individuals pay full price for obtaining medical services, how many of..
Gandolfi construction company purchased a used CAT 336D earth mower at a cost of $325,000 in January 2013. The company's estimated useful life of this heavy equipment is 10 years, and the estimated salvage value is $75,000.00 Using straight-line depr..
Desired consumption and investment are Cd = 4000 - 4000r + 0.20Y; Id = 2400 - 4000r. As usual, Y is output and r is the real interest rate. Government purchases, G, are 2000. Given the consumption function, what the value of the MPC? Given the saving..
In 2008, he purchased $150,000 worth of jerseys from manufacturers, employed a receptionist for$40,000, purchased $20,000 worth of workplace insurance, and sold jerseys for a grand total of$280,000 in revenues.
The owner of an exhaustible resource should ________ current extraction rate if the expected price increase of the resource is ________ the interest rate.
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