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A firm faces the following average revenue (demand) curve:P = 120 - 0.02Qwhere Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 60Q + 25,000. Assume that the firm maximizes profits.
What is the level of production, price, and total profit per week?
The U.S. mint, which produced billions of coins each year, has a mean defect rate of 5.2 coins per day. Let X be the number of defective coins produced on a given day. What is the probability of exactly 5 defective coins on a given day
Suppose the Bank of Canada wants to implement a policy that would cause the Canadian dollar to depreciate against the British pound. Which of the following money growth rates will achieve this objective.
According to the News on page 162 : Economy: Sharpest Decline in 26 Years The U.S. economy suffered its biggest slowdown in 26 years in the last three months of 2008, according to the government's first reading about the fourth quarter released Fr..
A high-tech company in the US can have one of the popular items made offshore at half the price of making them in the US. However, about 90% of the items made offshore will be returned within the warranty period of 1 year for repairs. The followin..
Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
Assets Liabilities Total reserves $12 billion Transactions accounts $ 50 billion Loans $27 billion Securities $11 billion Total $50 billion Total $50 billion 22.3. If the required reserve ratio is 0.20, what is the unused lending capacity of the b..
Acme Fragrance, a maker of fine perfumes, has a pricing problem. It makes perfumes in France, and the quality of perfume that it makes costs $40 per oz. to produce. Acme sells its product in two markets, France and the U.S. Extensive research.
Determine national income (NI) for 2008 and what does national income tell us? Discuss the difference between GDP and NI?
Plant A is much more highly automated than plant B, which in turn is more highly automated than plant C. For each type of plant, average variable cost is constant so long as output is less than capacity, which is the maximum output of the plant.
East Chicago is a major production center of steel in the United States. In the process of producing steel, the firms in this are emit pollution both into the air and into the water which adversely affect Indiana residents. The EPA has determined ..
A certain area has 7500 workers who are willing to work at any salary. The area has two places of employment, A and B. At A, the value of the marginal production of the workers is w = 1800-0.1L At B, it is w = 1800-0.2L
The demand for Airplanes is represented by this equation : Qd=53,230 - .8V+.05Vr-3,600Vh + 4T V is the Price for Airplanes Vr is the price per trip in boats Vh is the price per gallon of gasoline T is the average income of a consumer
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