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Mr Patel runs a motel in Tampa, FL. The market is highly competitive since there are many hotels in the surrounding areas and the average room rent per night is $35. There are 30 rooms are Mr Patels motel and each room can be rented for 30 nights a month. That is each month Mr Patel can rent 900 nights total. Mr Patels monthly cost curve is:
TC = $10,000 + $10 x Q
What is Mr Patels Marginal cost? What is Mr Patels profit maximizing quantity? What is his maximum profit?
Tierney Enterprises is constructing its cash budget. Its budgeted monthly sales are $5,000, and they are constant from month to month. 40% of its customers pay in the first month and take the 2.5% discount, while the remaining 55% pay in the month fo..
Jake drove Amanda's truck to the football bowl game because his car was broken. On the way home, Jake was involved in an accident that was his fault. The resulting liability damages totaled $85,000. Jake has $100,000 liability coverage on his car, an..
Explain how a group of nations could develop a cartel to maximize their profits of COFFEE. Be sure to address natural resources and/or factor endowments that could be leveraged in the creation of the cartel.
Multinational enterprises are sometimes compared to colonial enterprises that operated at the end of the 19th century. Colonial enterprises were often private firms that benefited from government protection and control of foreign countries. Is this a..
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A study estimates the cross-price elasticity between subscription satellite radio service and subscription Internet radio to be -2.5. Based on this information, we infer that the two services are
Purpose of the business in terms of the product or service you intend to provide through your business
q. speedy growth of the nationwide debt alarmed various politicians as well as created pressure for restricting
q. suppose that a ton of steel currently sells for 2000in united states and for euro2000 in germany. the exchange rate
A firm’s production function is given by: f(L,k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
What are key differences between ontological, teleological and cosmological arguments. Identify philosopher who you think best supports his or her argument. Explain your answer briefly.
BigBiz, a local monopsonist, currently hires 50 workers and pays them $6 per hour. To attract an additional worker to its labor force, BigBiz would have to raise the wage rate to $6.25 per hour. What is BigBiz's marginal factor cost?
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