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You are a manager of a firm that produces output in two plants. The demand for your firm's product is P=78-15Q, where Q=Qsub1+Qsub2. The marginal costs associated with producing in the two plants are MCsub1=3Qsub1 and MCsub2=2Qsub2. What price should be charged to maximize profits?
Use the following figures pertaining to conditions in 1984 to estimate the daily cost and benefit of having the speed limit in place1 billion more hours spent in cars annually due to speed limit
In the economic model of the fishery developed in this chapter, compare the effect on fishing effort of an increase in cost of a fishing license with an increase in a per-unit tax on fishing effort that raises the same amount of revenue. Assume th..
What is the long-run equilibrium price in this market? Explain intuitively, in your own words, why this is the long-run equilibrium. What is the long-run market equilibrium quantity?
Economic market then classify and describe their elasticity - addressing a series of questions around elasticity and will be required to conduct
A monopsonist occupies a market in which 10 potential workers live. Find the profit-maximizing wage offer
Microeconomics Assignment Questions - Without the excise tax, what is the equilibrium price and equilibrium quantity of cola exchanged
A consumer's utility function is given by U(X,Y)=X*Y. The Consumer has $576 to spend. Px=16 & Py=4. How much X & Y should the consumer purchase to maximize her utility?
assume that the marker for tradable emissions permits by power plants has been operating efficiently for several years.
What are two different reasons why commercial toilet paper producers will have a hard time shifting to the consumer market
Demonstrate how metrics such as valuation, economic profit, and related terms are measured and evaluated. Explain the significance and implications of various economic theories pertaining to profit.
If this household purchases 100 units of food products each month, how many units of nonfood items it can buy
suppose south korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor
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