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Assume a firm has the following total cost function TC = 10Q2- 25Q + 150
(a) Specify the bounds of output and price for the function.
(b) Find the break-even points of output if the market price is $55.
(c) Find the profit maximizing level of output and show that it is the average of the two break-even points in part (b).
(d) Find the price and output when the total revenue line is tangent to the TC curve.
(e) Show that the market equilibrium price and the firm's output in the long run are the same as in part (d).
Analyze short-run and long-run production and cost functions
Paper based on a current events news story related to economics - You should choose a news article dated within the previous two months and analyze the issue or issues discussed in the new article using economic concepts from class.
question 1suppose you have a rare simpsons animation cel that youre looking to sell. you decide to hold an english
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the economic analysis division of mapco enterprise has estimated the demand function for its line of weed trimmers asqp
Assume that the supply of bauxite (the ore from which most aluminum is produced) is Qs = 5P - 15 + sigma. where variable a represents an exogenous supply shifter. The demand for bauxite is Qd = 39 - P. For parts (a)-(d). Assume that sigma=0.
1. explain why an economys income must equal its expenditure.2. sometimes at the beginning of an economic boom total
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5.1 Know about and analyze the "great migration" of African-Americans from the south to the north to obtain better employment prospects in the 20th Century; 5.2 Appreciate and know how to analyze the role of immigration and the immigrant experience ..
Consider an auction with 1,000 risk-neutral bidders. It is know that these bidders have affiliated values. Based on this information we know the expected revenues for the different auction types will be
What has happened to the level of desired consumption and why? Be sure to refer to the substitution effect in your answer! Be specific with numbers
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