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A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm's total costs are C(Q) = 50 + 10Q + 2Q2.
a. How much output should the firm produce in the short run?
b. What price should the firm charge in the short run?
c. What are the firm's short-run profits?
Suppose Bank of Canada (BOC) purchases $100 million worth of government bonds from a chartered bank. Assume BOC imposes 5% legal reserve requirement ratio to the banking system.
Describe how a correctional officer's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of correctional officers.
Find out the price elasticity of demand regarding to the money price using "arc elasticity."
In your own words, discuss the economic purpose of OPEC. Illustrate what has happened to oil prices over the past five years.
Explain how have these policies affected the employment rates for your chosen industry? How have these policies affected the growth of the industry.
Carmen opens a retail store. Her sales during 1st year are $600,000, of which $30,000 has not been collected at the year end. Her purchases are $400,000.
Elucidate the risks inherent in having the government step in to compensate for market failure.
Assume the normal production process for beet sugar uses high-sulfur oil for fuel and releases 2 units of sulfur dioxide to the air for every ton of beet sugar produced.
Level of GDP per effective worker and explain whether this economy is following the Golden rule
Which of the following is now true of his opportunity costs and there is no change in the opportunity costs. B. The opportunity cost of leisure has increased.
Estimate the own price-elasticity of demand.
Assume your expected incomes in years one and two are $60,000 and $70,000 respectively. You have 40,000 in cash in year 0. Market interest rates for one-year loans are 8% in year 0 and 14% in year 1.
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