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Your firm is one of 100 identical firms operating in the short run in a perfectly competitive market. Your total cost function (short run and long run) is C = 800 + 25 q + 0.5 q2, and your marginal cost function is MC = 25 + q. The (short run and long run) market demand curve is given by Q = 2,750 – 5P. a. Find the supply curve for your firm. Show work. Then, find the short-run market supply curve. Show work. b.Find equilibrium price, P*, and quantity, Q*, in the market in the short run.Show work. c. Find the lowest price at which your firm will not exit the market in the long run. Show work. Referring to your answer in part b, should your firm exit the market in the long run if P* in the market does not increase over time? Explain. d. If you choose not to exit, how many firms (including your own) do you expect to be in the market in the long run?Show work, and explain.
Trademark law does not allow the holder to sell a trademark independent of the good to which it is attached. Thus, Coca-Cola cannot sell its use of the trademark "Coke" to another producer of cola syrup that mark may be sold only with the syrup produ..
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long run we expect:
Real Turf is considering purchasing an automatic sprinkler system for its sod farm by borrowing the entire $35,000 purchase price. The loan would be repaid with four equal annual payments at an interest rate of 12%/year.
Explain the paradox of why new cars usually lose a large fraction of their market value the moment they are driven from the showroom. Identify the economic principle that explains this paradox.
Calculate the arc cross-price elasticity of demand for JJT's deluxe garment bag. B. JJT's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction to $130 per unit.
A sports store puts designs 12 different designs on sweat shirts. Setup between each design takes an hour and costs $18,000. Once setup, at a cost of $8,000 they can produce 1,000 units. Does this production exhibit scale economies or scope economies..
Will developed economies and developing economies converge? What does economic theory say with respect to this topic? Does existing evidence support or refute this theory?
How would you design a specific customized compensation plan for Agent-Principal (owners, managers also workers) which would address both increased productivity also decreased turnover.
In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances, Illustrate what were the economic incentives for producers.
Compute the price, output, and profit contribution if the product is not certified.
q. the assignment is a report on the united states of americain past 6 years after the recession occurred in mid-2007.
q.assume that in 1998 the following prevails in the republic of nurd y200 g0 c160 t0 s40 iplanned30assume that
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