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A firm's total revenue is given by; TR= 30Q-Q^2
Its total cost function is given by TC= Q^2+10Q+10
a.find the profit maximizing output
b.what price will the firm charge to maximize its profits?
c.what are total profits?
d. Would a 50% tax on profits alter the firms output? by what amount and why?
Suppose the firms colluded to fix output at QS = 90 and QW = 70. Fill in the missing price and profit information in the payoff table below, where the other output choice is the output for each firm that you determined above.
Let the market demand for rye bread be given by Q = 500 I - 250Prye 400Pwheat, where Q is monthly demand in number of loaves, I is average monthly income in dollars, Prye is the price of a loaf of rye bread, and Pwheat is the price of a loaf of wh..
Two types of power converters are under consideration for a specific application. An economic comparison is to be made using a MARR of 20% and the following cost estimates: Data Alpha Beta Service life (years) 5 9
A firm uses labor and capital as factors for a technology with constant returns to scale and strictly convex production function. A new manager, looking through past data, observed that: when factor prices were: wl = 20 and wk = 5; the firm hired l..
Choose either $1,350,000 or $1,750,000 to be the more appropriate fixed cost for a product layout, and consider the other value as the fixed cost for a process layout. Similarly, choose either $240 or $310 to be the variable costs for the layouts.
a labour market in which the supply curve is given by: w= 10 + Ls (where w is the wage rate and Ls is the quantity of labour supplied). Further, assume that the demand for labour is given by w = 100 - Ld (where w is the wage rate and Ld is the qua..
Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150 + 28Q - 5Q^2 and C(Q) = 100 + 8Q. (note: MB(Q) = 28 -10Q and MC(Q) = 8). Write out the equation for the marginal net benefi..
Assume ZCorp has the following short run production function: Q = 500X - 2X2 where X is the only variable input used by ZCorp to product its product, Q. Because ZCorp sells its product in a perfectly competitive market, it can sell all the Q it produ..
suppose in Fiscalville there is no tax on the first 10000 of income but a 20 % tax on earning between $10000 and $20000 and a 30% tax on earnings between 20000 and 30000. any income above $30000 is taxed at 40%. if your income is $50000.
Gene Milton borrowed a sum of $5,000 from his uncle Ben and after three years paid a sum of $5,000 and paid another $1,000 after 4 years to pay off the loan. Determine the interest rate Gene paid it the payments were based on yearly compounding.
On the planet Omicron Persei 8, government spending is $1000, net taxes are $1200, and planned investment is $1400. Consumers spend according to the equation C = 100 + 0.8Yd, where Yd represents disposable income.
a. Fill in the column of marginal products. What patent do you see? How might you explain it? b. A worker costs $100 that day, and the firm has fixed cost of $200. Use this information to fill in the column the total cost. c. Fill in the column for a..
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