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Craig’s Red Sea Restaurant is the only restaurant in Columbia, South Carolina, that sells Ethiopian food. The demand for Ethiopian food is given by Q = 10,000 - 20P. Craig’s costs are given by TC = 1,000 + 10Q + .05Q2. (A). If Craig behaves like a monopolist, what are the output level and price to maximize its profit? (B). If Craig behaves like a purely competitive firm, what are the output level and price to maximize its profit?
For this assignment you need to identify and describe three differences between macroeconomics and microeconomics. For each of the three examples, give one of the following to help illustrate the difference between microeconomics and macroeconomics: ..
Develop a plan to propose taxes for your town, create a report in that what are the main factors that you will consider while selecting taxes to be imposed on Small Business Owners, Property Owners, and Individuals.
John advertises his used car for $5,000 in the newspaper. He would be willing to sell his car for as little as $4,000. Bill values the car at $4,800 but offers $4,500 for it and John accepts. How much producer surplus is created by this trade? How mu..
After reading Psalm 99:4, identify and discuss the differences between Constitutional Law, Statutory Law, and Court Decisions (Case Law), as discussed on pages 18-21, at both the Federal and State level. Also discuss how a Court would apply a biblica..
The Automotive Supply Company has a small plant that produces speedometers exclusively. Its annual fixed costs are $30,000, and its variable costs are $10/unit. It can sell a speedometer for $25. How many speedometers must the company sell to break e..
"Outcomes of a Traditional Weight Control Program and a Nondiet Alternative: A One-Year Comparison" Did the experiment setup create the conditions intended? What conclusions do the experimenters draw about the relationships between the variables? Cou..
Elucidate why it is important for managers to understand the mechanics of demand also supply in both short-run also long-run
Would you agree with Karl Marx in saying that the Industrial Revolution and its capitalistic foundations negatively affected the working classes?
Differentiate between the treatment of S corporation distributions from corporations having no earnings and profits, and corporations having accumulated earnings and profits. Suggest the most significant reason for the difference in the treatment ..
Consider the market for North Face coats. Suppose average household income increases from $38 thousand to $54 thousand per year. As a result, the demand for North Face coats increases from 430 to 507. Using the midpoint formula, what is the income el..
A small start-up company invested in a new plant with an initial cost of $10 million. Operating costs for the plant were $3 million per year for 7 years. There was a special one-time charge of $1 million in year 2 to correct unexpected equipment prob..
Multi-Part Pricing: In the town of Oz, there are two types of tennis players: wizards and imps. Wizards and imps do not socialize, so it would be impossible to start a tennis club that both types would join. Which clientele would you like to attract ..
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