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The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit and an output of 2 million units. The price that consumers are willing and able to pay for this outputis $40 per unit. If it priduces this output, the firms average total cost is $43 per unit, and its average fixed cost is $8 per unit. What is this producers profit-maximizing(loss-minimizing) output level and what are the firms economic profits (or economic-losses)?
these answers have to be a short paperthey must include references if used in the paper to prevent plagiarism.the book
Explain the factors and mechanisms of growth, explain how governments use monetary and fiscal policy to manage the economy and use technology and information resources to research issues in principles of economics.
Think a nation with no income maintenance program that enacts an Earned Income Tax Credit similar to United States.
If the economy is at point C, what is the cost of one more automobile and forklift ?
In the short run a firms cost of producing the hundreth unit of output is $10,000. If it makes just one more its $10,150. What is the marginal cost and average total for 101 units. Also average cost for 100 units?
Explain what happens to price and quantity of oil when the following events occur:
As per increases in population and income growth that expanded demand for housing, the price of existing houses barely increased. Why. Illustrate answer with supply and demand curves.
Each of the policies described above may lead to an increase in the long-run level of investment spending in the economy. Using a diagram of the aggregate production function, show that any such increase will lead to an increase in the future leve..
they receive $200 in income, and they spend a total of $200. Rich families spend only 75 percent of their incomes; they receive $400, but they spend only $300. So the total consumption spending would be increased by redistribution of income.
By how much and in which city is the hotel room cheaper.
Prepare a chart that lists three strengths and three weaknesses of the Consumer Price Index calculation.
Two company face a demand equation given by: P=200,000-6(q1+q2) where q1 and q2 are the outputs of the two firms. The total cost equations for the two company's are given by:
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