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The world price of zinc has increased to the point where "moth balled" zinc mines in east Tennessee have been reopened because of their potential profitability. What is the estimated annual profit for a mine producing 21,346 tons per year (which is at 100% capacity) when zinc sells for $1.00 per pound? There are variable costs of $20 million at 100% capacity and fixed costs of $17 million per year.
If the income elasticity of a particular good is negative 0.2, it would be considered 1) a superior good 2) a normal good 3) an inferior good 4) an elastic good
Japanese consumers or Japanese rice farmers If we added all the gains and losses to the Japanese,would there be a net gain or net loss Who would make a greater effort lobbying for or against this reduction in trade barriers: Japanese consumers or ..
Illustrate what price-quantity combination maximizes your firm's profits. What price-quantity combination maximizes revenue.
Find a functional relationship between Y and i, expressed as a function where Y depends on i (i.e. Y(i) ), such that the Quantity Theory of Money would hold
The following data(stored in the file Wholefoods1)compared the prices of some kitchen staples at the new Whole Foods market and at the Fairway supermarket located about 15 blocks from Time-Warner building.
Assume the U.S. government determines that cigarette smoking creates social costs not reflected in the current price of cigarettes
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run.
How would each of the following affect the firm's marginal, average, and average variable cost curves?
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
The economy has no unemployment and no inflation, but the government has determined that economic growth is too low and that the cause of this is a low level of investment. Using IS/LM, craft a set of policies that will stimulate investment BUT l..
Assume that gross private domestic investment is $800 billion and the government (state, local, and federal combined) is currently running at $400 billion deficit. If households and business are saving $1,000 billion, what is the value of net exp..
When manufacturer decrease price for goods and services, it increase customer’s surplus and everyone standard of living. Therefore, it behooves government to impose below market value ceiling on customers goods,
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