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Gliberace's Fashion Accessories of Las Vegas produces gem-stone encrusted formal wear for sale in Los Angeles and San Francisco subject to total cost TC = 100 + 6(QLA + QSF). Demand for Gliberace's stones in the two cities is given by QLA = 70 - 2PLA and QSF = 50 - PSF. If Gliberace cannot price discriminate between the two cities, and so charges the same price in each, how many stones will it sell in Los Angeles? what will be that price? how much profit will the firm make?
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
when output and employment slowed in early 2008 the bush administration and the democratic congress passed a
Construct a table showing the marginal cost of production. What is the minimum price necessary for the company to supply ten thousand copies? How many copies would the company supply at industry prices of $5,500 and $7,000 per ten thousand?
Suppose that a system of unemployment compensation isinstituted in the country, and the average duration of unemploymentrises for two months: a )What will be the unemployment rate for this economy now
state whether each of the following events will result in a movement along the demand curve for mcdonalds big mac
Explain why the productivity standard for the distribution of income entails rewarding people based on their contribution to societys total output. Why does the productivity standard typically fail to yield an equal distribution of income
you run a sport club that offers fitness guidance by the hour.your cost is 40 per hour and you have no other costs.you
Explain this relationship using at least two examples that incorporates all three concepts and explain how Demand, Elasticity, and Total Revenue are all related to each other
which would be least likely to cause the production possibilities curve to shift to the right a. an increase in the labor force b. improved methods of production c. an increase in the eduction and training of the labor force d. a decrease in unemploy..
Employ the following equation to demonstrate why the firm producing at the output level where MR=MC will also be able to maximize its total profit
what function does money play for dash crunch and bolt? explain why johnnys money is or is not part of the m1andor m2
In order to bring about a socially desirable quantity of landscaping service, what should the government do? Explain in words and show the effect of the government action in a graph.
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