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A company has fixed costs of $ 28000 and variable costs of 0.4x +222 dollars per unit, where x is the total number of units produced. Also, the selling price of its product is 1250-0.6x dollars per unit.
1. Write the total cost function C(x)
2. .Write the total revenue function R(x)
3. Write the total profit function R(x)-C(x)
4. Find the break even point(s). R(x) = C(x)
In a competitive industry, the market-determined price is $12. For a firm currently producing 50 units of output, short-run marginal cost is $15, average total cost is $14, and average variable cost is $7. a. Is this firm making the profit-maximiz..
Bottled water has the following demand function Qd = 50 - P/2. Assume that the supply curve for bottled water is given by the function P=50. A specific tax of 10 is imposed on sellers of bottled water. The economic incidence of the tax
A monopolist has the following short-run total cost function and demand function Total Cost: TC = 32 + 2Q + 1/2Q^2 Marginal Cost: MC = 2 + Q Demand: Q = 52-2P where P is the price per unit of output, and Q is the quantity of output.
A Jamaican music executive leaves Kingston for New York to promote a reggae concert tour. He exchanges 100,000 Jamaican dollars for American dollars ($104 Jamaican = $1.00 US). After his stay in New York, he has to head to Tokyo (a reggae-crazy c..
A bank has $120 million in total assets, which are composed of reserves, loans, and securities. its only liabilities are $120 million in transactions deposits. The bank exactly satisfies its reserve requirement, and its total reserves equal $6 mil..
(Amounts on the balance sheet are in millions of dollars.) Assets - Reserves $15.90 Loans $150.00 Securities $34.10 Total - $200.00 Liabilities + Capital - Transactions deposits $180.00 Equity capital $20.00 Total - $200.0 Calculate the bank's exc..
if you deposit $1000 now, $3000 four years from now follows by five quartely deposite decreasing by $500 per quarter at an interest rate of 12% per years compounded quartely. how much will you have in your account 10 years from now
Suppose the production function of the economy takes only capital as input and follows the formula: Y = zKWith saving rate s, deprectiation rate d and population growth rate n, write down an equation that determines capital stock next period
A firm is considering purchasing $64800 of hand tools for use on a production line. It is estimated that the tools will reduce overtime work by $2000 the first year, with this amount increasing $1300 per year thereafter.
At what price does a cigarette pack sell at each stage in the distribution network In other words, what is the selling price for the retailer, the wholesaler, and smokey smokey - the manufacturer
A furniture manufacturer is considering moving its production to India. Its production function is: Q = 1.52L.6K.4. In Canada, w = $24 & r = $4. In India, w = $4 & r = $24. a. What is the K/L ratio in Canada If Q = 100, what is L & K in Canada What..
The cost structure of a manufacturer of cable modems is described in the following table. The firm's fixed costs equal $10.00 per day. Output(cable modems per day Total cost of output ($ thousands) 0 10 25 60 50 95 75 150
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