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Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q.
(a) What is the variable cost function?
(b) What is the average variable cost function?
(c) What is the average cost function?
(d) At what quantity is the average cost is minimized? What is the associated cost at this quantity?
(e) At what quantity is the average variable cost is minimized?
(f) What is the restaurant’s individual supply function?
If equilibrium national income is 3,500 billion while the national income and output (GDP) necessary for full employment is 3,900 billion (assuming an MPC of 0.6) then. What is the size of the GDP gap? What size change in government spending would el..
Suppose we only use labor in a production run. How do we determine the optimal level of labor input in the short run? In other words what condition must be met
When a industry's marginal revenue product equals the income rate, marginal revenue also equals marginal cost.
The dropout rate of minority also international students at U.S. colleges also universities are higher than it is for white American students.
Depend on this information, which market structure best characterizes the industry in which Forey competes.
Find out the probability of a 5%-level test rejecting the null hypothesis when the true mean impurity concentration is 2.10%.
You are a monopolist producing video game software and know you can segment your market into two distinct groups of consumers: kids who will pay almost any price for your software, and older consumers who are very price-sensitive. Assuming all the sa..
As she will be in a lower tax bracket. As her financial advisor, which option do you recommend.
A bookkeeper makes a significant posting error, which she later discovers and corrects. In fear of losing her job, she does not report the mistake to her supervisor. How should the employee have handled this situation and what should the supervisor d..
Which statement BEST describes the advertising industry's position on marketing to children? marketers must limit their use of advertainment in broadcast and online channels.
It will provide benefits of $4000 at the end of Year 1, $3,500 at the end of Year 2, and $3,500 at the end of Year 3. If the discount rate is 6%, will this project be approved using cost-benefit analysis?
Prepare a composite (weighted) index for housing construction costs in 2008 with the following data:
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