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Assume your firm has a monopoly in a particular market. You can produce at constant marginal cost of MC = 50 for every additional unit you produce. You have avoidable fixed costs of $6,000 per year. You face a market demand curve given by Q = 540-P, where Q is the number of units sold per year, and P is the price per unit. What is the equation of your marginal revenue curve?
The maintenance and operating cost is $235,000 with an annual gradient of $75,000. The MARR is 10%. What is the most economic life?
The supply of paintings by Leonardo Da Vinci, who painted the Mona Lisa and The Last Supper and died in 1519, is highly inelastic. The federal government decides to require that automobile manufacturers install new anti-pollution equipment that costs..
Leadership positions for a college social club are up for election. Three people are needed to fill the positions of president
Who are the potential stakeholders at your organisation and what other aspects do you need to look at? Differentiate between your internal and external.
Simple random sampling uses a sample of size n from a population of size N to obtain data that can be used to make inferences about the characteristics of a population. Suppose that, from a population of 50 bank accounts, we want to take a random sam..
Assume, no calls are currently on hold. If agent takes 5 minutes to complete current call, how many callers do you expect to be waiting by that time. Illustrate what is probability that none will be waiting.
One of the objectives of the European Union is to abolish restrictions on the free movement of all factors of production, including labor, services, and capital. Considering the latest financial crisis in Cyprus, would you suggest modifying the EU Ch..
If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1300 units to 2200 units - Is demand elastic or inelastic in the $6-$8 price range? How do you know?
Describe the current state of the U.S. economy using the two monetary aggregates (M1 and M2) currently published by the Federal Reserve. In your description, illustrate the trends of the two monetary aggregates. . Evaluate what the Federal Reserve Ba..
Read the articles by Dravone and Gandal; Schepp; and Craft on different products and how the demand for them has been estimated, either correctly or incorrectly. Now read Appendix 4A Applications of Supply and Demand found in your text. Are they elas..
Consider the following two proposals to reform unemployment insurance. Explain the arguments for and against each reform. The insurance payment would be increased so that it replaced 100% of a worker's regular labor income for 26 weeks.
Compute both Burton Cummings's explicit costs every month also his implicit costs every month. Compute the opportunity cost of the resources utilized by Burton Cummings each month.
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