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Q. Q1. Explain how do I calculate the midpoints and marginal costs of 1 thing in terms of the other and the other thing in terms of the 1 thing? On excel? And Explain how do i estimate the marginal cost at a point?
Q2. Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, it is estimated that the price elasticity of demand is -3.0.
a. For the product is charging the most favorable price? Express how you know.
b. Should the price be changed, if so, Explain how?
Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.
Explain the concept of comparative advantage and the principle theories of why trade occurs and analyze and discuss the sources of comparative advantage in national economies.
Stanley's profit-maximizing output, price, and profit if he were allowed to set his own price instead of having to charge $0.80.
illustrate what does this mean for the survival of small firms in the industry.
Elucidate how long must a quota be in effect to have an impact. Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota.
John Adams wrote his wife that his office is the "most insignificant office that was the invention of man."
Explain how would the competitive balance in the American and National Leagues change if baseball owners forced the Yankees to move to Albuquerque, New Mexico.
Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range.
A similar helicopter was purchased 4 years ago at a cost of 140,000$. At an interest rate of 7% per year. Illustrate what would be the equivalent value today of that 140,000$ expenditure.
q1. mention three businesses that you are familiar with or that you have dealt with recently. choose on which market
q.sensitivity analysis using excellane construction ltd. is considering the acquisition of a new eighteen wheeler.-the
Compute the changes in consumer surplus, producer surplus, government revenue and third party surplus. Also, show these changes on a graph.
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