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Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10 Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170 ( a ) What is the profit-maximizing rate of output for the firm? ( b ) How much profit does the firm earn at that rate of output? ( c ) If the price of ties fell to $15, how many ties should the firm produce? ( d ) At what price should the firm shut down?
Illustrate what are the key determinants of Spectrum Healthcare Resources fixed cost and variable cost in short-run.
Explain how will the increase in unemployment benefits affect output and the price level in the short run and in the medium run.
The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water.
Determine whether the Justice Department would challenge a merger between two firms in an industry with 10 equal-sized firms.
If a tax were to be imposed on one of these items, for which item would the tax be the most efficient.
Consider an equilibrium in which someone is using the good. Is social welfare maxi- mized at this number of users, or would it go up if there were more users, or would it go up if there were fewer users? .
Antitrust act that bans anticompetitive mergers that occur as a result of one company acquiring the physical assets of another company.
Are these ever mentioned? Explain. Q3) How would you compare the events of September 11, 2001 to those reasons listed? Q4) What is the difference between a "bull market" and a "bear market"?
Explain how much consumer surplus exists in this market. If a $2.00 excise tax is levied on this good what will happen to equilibrium price and quantity.
The Fed attempts to increase the money supply to stimulate the economy, but plants are operating at 65 percent of their capacities and businesses are pessimistic about the future.
If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved.
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes.
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