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OUTPUT ------ TFC ---------- TVC0 $100.00 0.001 100.00 70.002 100.00 120.003 100.00 150.004 100.00 200.005 100.00 270.006 100.00 360.00
(a.) Refer to the above data. If the product price is $45 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.
(b.) Refer to the above data. If the product price is $75 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.
Daniel deposits $20,000 into an account earning interest at 6 percent per year compounded quarterly. He wishes to withdraw $400 at the end of each month. For how many months can he make these withdrawals
If the government imposed a minimum wage of w=70, what would be the resulting quantity of labor employed, the wage, and the welfare loss. Also, calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum w..
If U(x,y)=2x^1/2 +y and Px=2, Py=6 and M=100, what is the optimal choice If the price of good x fell to $1, what is the new optimal choice Explain what happens to the optimal choice as income increases. What is fundamentally different about the op..
Consider a simultaneous move quantity-setting game with two firms facing a demand curve p = 100 - q. Both firms have marginal cost of 20. Suppose one firm maximizes profit and the other maximizes revenue, but both take into account the other firm'..
A firm has undertaken a project in which the firm has the option to invest in additional manufacturing and distribution resources (or scale up). The project's current value is V0 = $25M. Anytime over the next three years, the firm can invest an add..
short-term parkers and all-day parkers with respective demand curves of Ps=3-(Qs/200) and Pc=2-(Qc/200). Here P is the average hourly rate and Q is the number of cars parked at this price. The garage owner is considering charging different prices ..
A manufacturer is considering replacing a production machine tool. A new machine tool will cost $37,000 and have a life of 4 years with no salvage value, and will save the company $5000 per year in direct labor costs and $2000 per year in operatin..
Vincent van Gogh can produce paintings at constant marginal cost cV V G = 1. The population of buyers of VVG paintings is grouped into two categories: Serious Art Collectors (SAC) and Casual Art Collectors (CAC). The SAC to CAC population ratio is..
The manager of a cheese-packing plant can use either people (labor) or cheese knivess (capital) to prepare packages of gouda. Based on estimates provided by an efficiency expert, the firm's production function for gouda is given by Q = 2K + L (MPK..
] A perfectly competitive firm faces a market price of $10 for its output X. It own two plants, A and B whose total costs are TC sub A = 10 + 2X + (.25X)2, TC sub B = 15 + .4X + (.1X)2, How many units should each plant produce to maximize profit at t..
A certain service can be performed satisfactorily by process R, which has a capital investment cost of $8,000, an estimated life of 10 years, no market value at the end of 10 year life, and annual net receipts (revenues-expenses) of $2,400 per yea..
A high-tech stock has the following potentials of either going up or down in next twelve months based on investment analysis of several stockbrokers.Potential Associated Increase Probability /DecreasePercentage as a young enterprising engineer, are..
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