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Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost function is STCa(q)=1/2q^2+100q+10 with SMCa(q)=q+100, and using technology B it is STCb(q)=2q^2+6 with SMCb(q)= 4q. Assume there are 100 firms using technology A and 400 firms using technology B.
If market demand is given by Q = 50,000 -100 p what is the short-run equilibrium price, quantity, and output per firm?
Find the marginal rate of substitution for both individuals and is the initial allocation pareto efficient
What is statistical discrimination and why does it occur, Provide an example of statistical dis-eliminations. Is statistical dionimination likely to persist overtime or will it eventuly disappear. Explain
Illustrate the black market for internet access, including the implicit supply schedule, the ceiling price, the black market supply and demand, and the highest feasible black market price.
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Use method of Lagrange multipliers to find the cost function c(r,w,y). Find out the average and marginal cost. Find out the interpretation of the Lagrange multiplier in part (a)? What is the importance of term (a+b) being less than, equal to, or grea..
Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
Fit-To-A-Tee, a "price-taking" T-Shirt design shop, has a schedule of total fixed costs, total variable costs, total costs and marginal cost
If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true that marginal revenue exceeds marginal cost.
Write down a five paragraph introduction detailing the purposes and activities of the organization. Consider whether there're any groups opposed to them and why.
How many additional watches can be produced by an extra hr of labor? As a profit maximizer what price and output should the firm set? Is production capacity fully utilized? What contribution does this product line provide?
Do you think that nearshoring or outsourcing will continue for U.S. companies? B. Identify a legal job that you would not accept on moral grounds? C. Identify a U.S. company that operates in a foreign country whose assets were confiscated. Explain..
This is a challenging question and involves algebraically solving system of two equations given by AD abd AS curves. The equations for the curves are given through the following:
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