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Suppose that a perfectly competitive firm faces a market price (P) $5 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,500 units. If the firm produces 1,500 units, its average variable costs (AVC) equal $5.50 per unit, and its average fixed costs (AFC) equal 50 cents per unit. What is the firm's profit-maximizing (or loss minimizing) output (Q) level? What is the amount of its economic profits (or losses) at this output level? What would be the firm's decision at this price/output level?
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
changes would most likely bring economy to a full employment level of national output. What is income multiplier.
Illustrate what is the smallest value of x that would be sucient to make Buck want to invest in the pinball palace rather than have a wealth of $24,000 with certainty.
Further assume that they are not able to ‘collude' on price and quantity of premium digital channel subscriptions to sell. How much profit will each firm earn when this market reaches Nash equilibrium.
What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.
Based on your answers in a also b, how can you reconcile the president's statement with economics. Can you suggest how his statement could be modified to be consistent with the IS-LM model.
How will an increase in the savings rate affect the growth rate of per capita output in an endogenous growth model?
Can anyone think of a program which costs a lot but does not provide long lasting benefits.
Suppose, on the other hand, that the second country retaliates with an export subsidy of its own.
You complain that the current labor contract specifies a full hour for your lunch break and you still have over 15 minutes left.
elucidate what economic factors may influence such behavior
Fully explain your answer in a way that shows your understanding of monopolies. Your paper should be two to three double-spaced pages and formatted according to APA style as outlined in the Ashford Writing Center.
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