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Suppose that a perfectly competitive firm faces a market price of $5per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output level of 1,500units. If the firm produces 1,500units, its average variable costs equal $5.50per unit, and its average fixed costs equal $0.50per unit.
What is the firm's profit-maximizing (or loss-minimizing) output level?
Assume that the following data are known for a mechanical part under design: Load Stress is Normally distributed with ?s=15,000 psi and ?s=4,000 psi Strength of part is also normally distributed with ?ST=30,000 psi and ?ST=3,000 psi What is the safet..
Assume the price charged in market 2 was $10, what would be the price charged in market 1?
What the recent inflation rate is as published by the bureau of labor statistics: What are the prospects for future inflation based on government estimates?
Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?
Elucidate what other types of variables should be considered when determining what is reasonable in terms of maintenance expense.
Your dental clinic provides 3,000 exams for private pay patients and 1,000 exams for members of a union. Your fixed costs are $50,000 and your incremental cost is $40. If the union negotiated a fee of $45 instead, what would you charge private pay pa..
q1. tetrangle manufacturing has fixed costs of 2160 per day. the firm manufactures bicycle component upgrade kits. the
Explain how supreme as well as comparative advantages were used in your simulation.
Describe in detail a perfectly competitive market structure. Do you think such a market structure exists? Give an example of an actual market structure that resembles a "pure competition" model.
Before World War II, Alcoa controlled the supply of bauxite in the United States. Because bauxite is a scarce resource that is vital to the production of aluminum:
If the federal government chooses to increase government expenditures explain the three methods of financing the expenditures in terms of: which is the most expansionary, what are the negative effects of each, and which is the most inflationary.
If it is estimated that the checking account (demand) deposits at the chartered banks are $500. Using the above information, calculate M1, and money multiplier (m).
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