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Suppose a firm faces demand of Q = 300 - 2P and has a total cost curve of TC = 75Q + Q2 .
a. What is the firm's marginal revenue?
b. What is the firm's marginal cost?
c. Find the firm's profit-maximizing quantity where MR = MC.
d. Find the firm's profit-maximizing price and profit.
Describe the effect of this change in units on the estimated regression coefficients and their standard errors, t and F-statistics, p-values, and the value of R 2 .
Demand function: qd=5,000-50p, where qd is quantity demanded and p is price per unit. A. How man units with be demanded between $10, and 20 Between $20 and 30 B. What is the arc price elasticity of demand $10, and 20? Between $20 and 30 C. What is th..
If AD goes up by 40, since the multiplier is 5, GDP will rise by 200. But WHAT in GDP will rise. I see that I will rise by 40 (because MPI=0.2) and C will rise by 120 (because MPC=0.6). But 40 + 120 only reaches 160 and GDP is supposed to rise by ..
Use the marginal cost and marginal revenue concepts developed in this chapter to derive an optimal capital budget for Ajax
How does this forecast differ from that which would result from a perfect-foresight model? d. Is this forecast better or worse? Explain.
Clean Supreme is a corporation that produces and sells powdered laundry detergent in the U.S. The company has estimated the following regression equation for the demand of its Brand Z detergent:
A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. What is the marginal c..
x is the amount spent in product A. y is the amount spent on product B. Assume that the consumer that the consumer has $10 to spend on A and B, that is x+y=10. How much utility will the marginal dollar yield
Firm ‘A' can make either 500 flashlights or 2000 batteries. Firm ‘B' can make either 650 flashlights or 1500 batteries. a) Who has comparative advantage in each good b) How would they both make themselves better off
Consider the market for soft drinks. You know that the demand curve in this market contains the points (Q, P) = (100,000, $1.00) and (50,000, $2.00). How big an excise tax will the government need to implement in order to reduce consumption to 50,0..
Starting with the estimated demand function for Chevrolet: Qc = 100,000 - 100Pc + 2000N + 50I + 30Pf - 1000Pg +3A + 40,000Pi. Assume the average value of the independent variables changes to N= 225 million, I= 12,000, Pf= 10,000, Pg= 100 cents, A=..
In the United States, the capital share of GDP is 30%, output growth is 3%, the depreciation rate is 4% and the capital output ratio (K/Y) is 2.5. Assume the US economy is described by a Cobb-Douglas production function.
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