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Problem 1: A firm's total cost and marginal cost functions are: TC = 10 Q2 + 2 Q - 2 and MC = 20 Q + 2. Assume that the market price is 62 and that the marginal revenue (MR) is also 62 at all output levels. If the firm is currently producing 3 unit of output, what are profits for this firm?
a. Profit is 92
b. Profit 42
c. Profit is 186
d. None of the other choices
Assume that nation has a labor force of 100 people. In January, Amy, Barbara, Carine, and Denise are unemployed, in February, those four find jobs, but Evan, Francesco, George, and Horatio become unemployed.
Walmart has any special foreign exchange problems resulting from its strategic stance payment in USD, and what alternative policies the company could adopt in the event of such problems.
Create a proposal for where the revenue would be derived if the U.S. were to adopt a zero income tax model. In your response, provide specific recommendations concerning the proposed tax base.
Assume that Ricardian equivalence holds. What happens to national savings when the government increases the deficit? What happens to private savings?
Why women would be willing to accept lower profits. Are they stuck with lower earnings because their wages (working for others) are lower?
You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table:
Distinguish between income and leisure preferrers and discuss circumstances under which their utility from work might be increased.
Suppose that the economy is currently at potential output.Also suppose that you are an economic policy maker and that acollege economics student asks you to rank, if possible, your most preferred to least preferred type of shock:
How would change affect economic growth - what groups in society would benefit From this change? What groups might be hurt?
use the data on u.s. real gdp below to compute real gdp per person for each year. then use these numbers to compute the
Make sure you indicate the horizontal and vertical intercepts. Now, suppose the local government is considering two health plans. Under plan A, the government will give out vouchers worth 2 free visits to the doctor.
Many types of systems are networked together, and the number of devices that are added to this network increases every year. You can set your home security alarm system using a smartphone app or use another mobile app to open your car door.
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