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A firm that produces houses has a total costs function given by the following: TC = 144 + 4Q2. If the industry in which this firm operates is perfectly competitive, in the long run competitive equilibrium the number of houses the firm will produce is equal to?
A large profitable corporation is considering two mutually exclusive capital investments: Alt A. Initial Cost: 11,000Uniform Annual Benefit: 3,000 End of depreciable life salvage value: 2,000 Depreciation method: SL End of useful life salvage value
Compute the opportunity cost in forgone tanks for each additional truck produced: Truck output 0 1 2 3 4 5 Tank output 5 4.5 3.8 3.0 2.0 ..
Given the following MV information, what is the optimal allocation of care according to the Paretean criteria, when the marginal cost of care is constant at $1000 Person A Person B Quantity of care consumed MV Quantity of care consumed MV
Suppose that natural real output in the country of Eudemonia grows at a steady rate of 3 percent per year. In the past, velocity has been approximately constant, and the Eudemonian Central Bank (ECB) has maintained a target rea..
What is each orchard's labor demand as a function of the daily wage W? What is the market's labor demand?b. Ectenia has 200 workers who supply their labor inelastically. Solve for the wage W. How many workers does each orchard hire? How much profit..
Suppose it is known that 10% of people who play poker machines have a gambling problem. Suppose it is also known that 20% of the population play poker machines and 5% of the population have a gambling problem.
Suppose Mary earns $13 an hour installing transistorized digital chips in electronic calculators. If you were unemployed, would you offer to work for $8 an hour to get the job Why might a profit-maximizing employer turn down your generous offer
A competitive firm has a production function described as follows. "Weekly output is the square root of the minimum of the number of units of capital and the number of units of labor employed per week." Suppose that in the short run this firm must..
Simplify depreciation to be calculated as straight line over 30 years. It will be financed with a 30 year loan at 8% interest compounded annually with annual payments. It will be sold at the end of year 15 for $300,000, at whi..
Construct a table to report the regressions above, which includes the estimates, the standard errors, and adjusted R-square and find the estimated coefficient of ln(Y earsSchool) in Regression B. What is the interpretation of it?
A perfectly competitive firm has a total cost function TC(Q)=10 million + 5Q + Q2/10,000. Of its total fixed cost of $10 million, $9 million can be avoided if the firm produces an output of zero, but $1 million is completely unavoidable.
john an accountant quit his $80,000 a year job and bought an existing laundry facility from its previous owner. the lease had five more years remaining and required a monthly payment of $4000. johns explicit costs are $3000 per month more than his..
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