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Global Investment Group operatesin a perfectly competitive industry with the following Cost andRevenue data:
Average Total Cost = $2.50; Quantity sold =9000 Units; Price Per Unit = $3.50; Marginal Revenue = $3.50;Marginal Cost = $3.50:
(a) What is the cost minimizing outputlevel for the firm?
(b) What is the Average Profit or Lossfor the firm?
(c) What is the Total Profit or Loss forthe firm?
Suppose that real GDP is $1,500 and potential GDP is $1,200, while the marginal propensity to consume is 0.8. If the government is going to engage in government spending and change taxes. If the government increases taxes by $20, how much will it ..
There is a big gap in the earnings of married women and married men, even if individuals of both sex have the same level of education.
John runs the only carwash in town; he is a monopolist. John estimates his daily demand for carwashes is given by the expression Q = 100?4P, where Q is the number of carwashes drivers will purchase at price P. It costs John $5 in electricity, soap..
Assume a natural monopoly with total costs C=500 20Q. Market demand is Q=100-P. a) Suppose that average cost pricing is employed. Find price, output, and the deadweight loss. b) Now consider two-part pricing.
In a given marker, demand is described by the equation QD=1800-10P and supply is described by QS=200+10P. A. Determine the equilibrium price and quantity. B. Determine the surplus or shortage that would exist if the price was set at $60 by the state.
A sample of 48 warehouses that are for sale across the U.S. is taken, and the mean price per square foot is $31.67, with a sample standard deviation of $1.29. Test the investor's concern at a 5% level of significance.
Suppose the productivity of capital and labor are as shown in the table is the input of these resources. They sell in a purely competitive market for $1.00 per unit. Both capital and labor are hired under purley competitive conditions.
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
What is the profit-maximizing price and output level. Solve this algebraically for equilibrium P and Q and alos plat the MC, D and MR curves. b. What profit do you expect that the firm will make in the first year? c. Do you expect this profit leve..
the following information concerning production of wheat and cloth in the United States and in the United Kingdom: Labor Hours Required to Produce One Unit United Kingdom United States Wheat 2 ..
A needy family of a mother and three children currently receives cash benefits that average $12 per day. The mother of this family is allowed to earn an average of $4 per day before her benefits begin to decline.
If the marginal propensity to consume for an economy as a whole is 0.75, what is the simple multiplier equal to? If governments spend 1 billion dollars, how does this translate into a greater than a $1 billion impact on the economy.
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