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Question: Assume the marginal cost of a perfectly competitive firm is MC - 3 + 2q and the market price of the firm's product is RM9. a. What is the total output produced by the firm? b. Assume the firm's average variable cost is AVC = 3 + q and the firm's fixed cost is RM3. Determine whether the firm makes a positive profit, negative profit, or zero profit in the short run.
Elasticity suppose the weekly demand function for a product is given by p = 100e-0.1q where p is the price in dollars and q is the number of tons demanded.
The United States, China, and Japan are often cited as the most dominant economies. Which countries is also considered to be economically powerful?
Under a system of private property, could a 60-year-old owner of a tree farm benefit by planting and caring for a crop of Douglas firs, most of which will not be ready to harvest for 50 years?
Provide advice and recommendations for parents on how to coach adolescence and how they might deal with these issues in their households
EC3080 Assessed Coursework 2_2017. A simple economy has 2 consumers, denoted i, i = 1, 2, and benevolent government. Calculate optimal tax-trafer system
At what output rate and price does the monopolist operate? In equilibrium, approximately what is the firm's total cost and total revenue? What is the firm's economic profit or loss in equilibrium?
Why should workers care about increases in labor productivity?
Cost estimation - Explain how you estimate costs. Show total costs as function of output quantity, and comment on how closely it fits the data.
Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity.
Describe what is occurring during repolarization. After repolarization there is a hyperpolarization that occurs. What causes the hyperpolarization?
Would you be indifferent between the plans?
Assume your salary is $35,000 in 1995 and $60,000 in 2035. If inflation has averaged 2% per year, what is the real or differential inflation rate.
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