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Suppose you estimate the short-run total cost function to be TC = 200 + 10Q + 0.1Q2.
Also, suppose you can sell every unit produced at a $300 price so you have a marginal revenue of $300 for each unit.
If so, what is your profit maximizing quantity to produce? (Hint: solve for MC = MR or MC = $300 using your derived MC function.)
Suppose autonomous consumption is $500, government spending $1,000, panned investment is $1,250, and net exports are -$250 and the MPC is 0.8. What is the equilibrium value GDP?
Do unexpected monopolistic profits serve any useful function in a market economy? Could additional oil revenue be used to explore and develop new fields?
If oligopolistic firms banded together with the intention of acting like a monopoly it would likely result in their being able to
When the percentage cYou have been put in charge of ASU Gammage Auditorium. The market for ticket sales is made up of both students and nonstudents. You have determined the students' demand curve for ticekts is given by P=17-0.15Q while the demand fo..
Recalling some basic reasons about why people engage in trade, provide a short example of a market in which consumers and producers exchange goods. In your example, briefly explain who the consumers and producers are, what factors may influence suppl..
The definition of a price maker is a firm with some power to set the price because the demand curve for its output slopes downward which in effect means those firms with a downward sloping demand curve have some market power.
Take the partial derivative of y with respect to x, where y has no relationship to x. (Hint: think of as a constant
What is an entrepreneur and What are their characteristics? Are there characteristics that are unique to an entrepreneur?
In this experiment, what is the treatment variable? Give an example of a variable that could confound the results.
Is the relation between "Wal-Mart" and its consumers, workers, and communities typical or atypical of the relation between businesses and consumers, workers, and communities? Explain.
A simplified economy is based on agriculture, manufacturing, and transportation. Each unit of agricultural output requires 0.3 units of its own output, 0.5 of manufacturing, and 0.2 unit of transportation output. There is demand for 95 units of agric..
In order for a price-discrimination scheme to be effective at boosting profit, the seller must...(choose correct answer(s))
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