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Short run profit maximization A monopolistically competitive firm faces the following demand and cost structure in the short run:Output Price FC VC TC TR Profit/loss0 $100 $100 $0 ___ ___ ___/___1 90 ___ 50 ___ ___ ___/___2 80 ___ 90 ___ ___ ___/___3 70 ___ 150 ___ ___ ___/___4 60 ___ 230 ___ ___ ___/___5 50 ___ 330 ___ ___ ___/___6 40 ___ 450 ___ ___ ___/___7 30 ___ 590 ___ ___ ___/___
a. complete the tableb. What is the highest profit or lowest loss availability to this firm?c. Should this firm operate or shut down in the short run? Why?d. What is the relationship between marginal revenue and marginal cost as the firm increases output?
A fashion firm manufactures outfits using two inputs, design skills (L) and expensive materials (M). The cost of fabrication is small and might be ignored as a first approximation.
What effect is the diet likely to have on housing prices in Ulster County
Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.
Return again to the cartel in Problems 4 and 5. Now suppose that the market game repeated indefinitely. What is the discount factor (sigma) is necessary now in order to maintain the collusive agreement in an indenitely repeated setting
microeconomics problem price gouging after disastersyour final research paper should be a minimum of four pages and not
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The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental servic..
a small vessel was purchased by a chemical company for 55000 and is to be depreciated by macrs depreciation. when its
Explain why in a perfectly competitive market the firm is a price taker. Why can't the firm choose the price at which it sells its good and Leskeista produces table lamps in the perfectly competitive table lamp market.
Given the asymmetric information situation a prospective employer faces in hiring from this labor pool, what is the average salary that they would pay without a signal?
Discuss how to use Coase theory to see mandated mercury emissions and what do you think Coase would say to a supporter of free market environmentalism.
Sketch the indifference curves and show where the "corners" are. If the prices or x and y are P_x = 5 and P_y = 1, respectively
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