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since the AC curve in the problem is upward-sloping everywhere, it is not possible to construct a zero-profit equilibrium given the assumptions of the problem (this outcome requires a U-shaped AC curve). this problem will consider an alternative example where a long-run equilibrium exists. let the total cost function for an individual firm be give by C = 240Q - 40Q^2 + 2Q^3. compute average cost for Q = 1, 2, 3,...,14, 15. a) using your results, find the long-run equilibrium price in the market. this price is given by p = ?, and output per firm is Q = ?. b) suppose that the (inverted) market demand curve for the product is given by Q = 50000 - 10000P. what total quantity is demanded at the long-run equilibrium price? c) from (b), you know how much total output must be delivered by all firms operating int he long-run equilibrium. using this number along with the results from part (a), compute the number of firms in the industry in the long-run equilibrium. this number is ?
Develop a preliminary SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis for QMC. Because this is a new target market with a smaller computer, you want to make sure you are including your current customers. Be sure to consider your com..
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Suppose you have 10 indivduals with vales ($1, $2, $3, $4, $5, $6, $7, $8, $9, $10. . our marginal cost of production is $2.50. What is the profit-maximizing price?
Why did president Obama want to repeal the Bush era tax cuts on upper income tax payers How would the repeal of these tax cuts impact aggregate demand and to what degree How did the economic conditions in 2010 make such a repeal less likely to tak..
Is First Amendment free speech protection only afforded to the spoken word? Explain. 2. The 2007 PwC Report suggested three things companies could do to minimize accounting fraud. Discuss these suggestions. 3. Describe the three types of negligence c..
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
Neilsen Media Research wishes to pretest a questionnaire to be mailed to many thousand spectators. One question involves the ranking of male and female college students
Suppose that competition among several market makers forces the spread down to $2. How many goods are traded?
The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic product.
Prince Sports wants to exploit a favorable trend-the dramatic growth in tennis participation. For example, a recent study by the Sporting Good Manufacturers Association notes that tennis participation in the U.S. was up 43 percent from 2000 to 200..
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
Calculate marginal pdf's of both variables and calculate the probability that Bobo has fun if Bobo studies economics.
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