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Q. Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs. Illustrate what would you do--shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling the cost of the product the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total also average variable costs. After that go ahead also make your decision. Elucidate carefully Elucidate why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? Illustrate what is the difference among shutting down also going out of business?
Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each.
The 2 firms form a cartel & arrange to split total industry profits equally. Under this cartel arrangement, they will maximize joint profits.
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Report demand graphic as well as independent variables that are relevant to absolute a demand analysis providing a rationale for the selection of the variables.
What is the short-run equilibrium price. What is the short-run equilibrium market quantity.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
This graphing calculator illustrates the demand for spaghetti dinners served in all the restaurants in a society.
illustrate what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services.
Assume Arturo is willing to trade 6 burritos to Dina for each 10 tacos which Dina produces also send to Arturo.
Ssuppose which the benefit to the villagers of each additional cow grazing on the commons declines as more cows graze as each additional cow has less grass to eat than the previous one.
Pocoyo bakes cookies also Pato grows vegetables. In which of the subsequent cases is it impossible for both Pocoyo also Pato to benefit from trade.
Explain how much additional profit do you earn using a two-part pricing strategy compared with charging this customer a every-unit price.
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