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Assume that you are going to start a small business of your own. Describe the business and, utilizing the concepts of this unit and the earlier units, discuss: what costs you would incur; what competition you might experience; how you would determine the price you would sell your product; and, how much product you would produce?
Let the demand curve for a good be given by P=60-Q. Also, suppose that the marginal and average cost of producing the good is MC=AC=20. For this demand curve, MR=60-2Q. Find the competitive and monopoly quantities and price.
three oligopolists a b and c produce an identical product q. q is produced under conditions of constant costs that is
The relationship between the number of people
Calculate the following for Brian and Kim's firm
Let us incorporate government transfer payments TR explicitly
assume that in short-run equilibrium a particular monopolistically competitive firm charges 12 for each unit of its
A monopolist is maximizing profit at an output rate of 1,000 units per month. At this output rate, the price that its customers are willing and able to pay is $8 per unit, average total cost is $5 per unit, and marginal cost is $6 per unit. It may..
If a firm maximizes profit. It must minimize the cost of producing the profit-maximizing output.
how does model analysis compare to cost benefit analysis regarding transportation planning? what political elements are
Calculate the opportunity cost of producing the first 15 houses and what is the marginal rate of substitution between houses and clothing production?
Why did the budget deficits rise sharply in 1991 and 1992 what explains the ;arge budget surpluses of the late 1900s and early 2000s What caused the swing from the budget surpluses to the series of budget deficits beginning in 2002
pollution is considered by most a negative externality. some economists would like to see the costs of these burdens
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