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Luigi's Calzone is a price taker. Its costs are
Output (Plates per day)
Total Cost
0
1
28
2
38
3
51
4
70
5
91
6
130
A. What is Luigi's shut-down point?
B. What is the profit maximizing quantity and economic profit if the price is $21 a plate?
C. We are assuming that the above total cost is the total variable cost. Now, suppose that we introduce a fixed cost equal to 10. Redo Question A to compute the price at which the firm will break even
The absolute value of Mars’ MRS at his current consumption bundle is strictly greater than 2. Mars has convex preferences. Which of the following statements is (are) true? Justify your answer graphically.
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In a particular competitive market, the sellers have private marginal cost (PMC) equal to 2.5 at every output level. The demand curve has the equation P = 52.5 − (5Q/2), where Q ≤ 21 is the quantity bought at price P ≤ 52.5. Find the competitive equi..
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If equlibrium level of aggregate income in an economy is $250 billion while full-employment level of income is $450 billion, and if the value of MPC is 0.60, then additional investment needed to reach the full-employment level of income $____________..
A service car whose cash price was P785,000 was bought with a down payment of P157,000 and a monthly of P13,245.59 for 5 years. What is the rate of interest if
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