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(l) The market demand function for a good is given by Q 2 13(3)) = 800 - 5013. For each ?rm that produces the good the total cost function is TC(Q) = 4Q + 92:. Recall that this means that the marginal cost is M C (Q) = 4 + Q. Assume that ?rms are price takers.
(a) What is the supply function of a ?rm in this market?
(b) If there are currently 100 ?rms producing the good, what is the market supply function? What is the short-run competitive equiJibrimn in this market with 100 ?rms? What is the pro?t of each ?rm?
A bakery produces bread. The production function of bread is q(e)=24e, where is e is the baker’s effort. What number of loaves (i.e. q) maximizes the baker’s profits and what are the baker’s profits in this case? What number of loafs (i.e. q) maximiz..
All other things being equal which of the following is not likely to lead to faster growth of GDP per capita if we assume diminishing marginal product of capital improving government starting poorer higher savings rates higher population growth
suppose a firm has an annual budget of 100000 in wages and salaries 50000 in materials 20000 in new equipment 10000 in
Use the principles of supply and demand to address a predetermined goal (set by you) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future m..
corporate profitability declined by 20 percent from 2008 to 2009. what performance percentage would you use to trigger executive bonuses for that year? why? what issues would arise with hiring and retaining the best manager?
What aspects of the Glass-Steagall Act do you think Congress or the Executive Branch of government should consider reinstituting to prevent re-occurrence of the 2008 financial crisis (TARP -Troubled Assets Relief Program and the Stimulus); or, do you..
A piece of land has a market value of $2000 per acre, if used for agricultural purposes. A land ‘speculator’ buys the land, paying $3000 an acre. Five years later she sells it to a house builder for $7,000 an acre. Assuming the land market and housin..
The development of early trade theory was influenced by the debate? These are the muliple choice answers maybe that will help you but it is an actual question.
Consider data on U.S. refrigerator sales from 2009. the market shares of the top 4 firms was 12% for Sears, 9% for lowes. 5% for walmart and 3.5% for home depot. firms 5 through 25 combined summed to 20.5 % and all other independents outside the top ..
Marathon Gardening is a statewide landscaping business with offices and facilities in more than 20 locations. Marathon has just hired its first security manager who proposes using digital certificates for all enhanced security. Marathon would like..
In the international environment, it is apparent that China is making large investments in the global financial markets in their shift away from exports. Is there a connection between China's exports and its financial investments in other countries?
Use a diagram to show the consumer surplus , producer surplus and total surplus of the market for groceries in this small town. Now suppose these small supermarkets successfully form a cartel which behaves like a monopoly, How does this cartel affect..
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