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Your firm operates three plants. The cost functions vary across the three plants.
Plant A:
Marginal Cost = 6Q
Average Variable Cost = 3Q
Average Fixed Cost =1000/Q
Plant B:
Marginal Cost =10Q
Average Variable Cost = 5Q
Average Fixed Cost =600/Q
Plant C:
Marginal Cost =12Q
Average Variable Cost = 6Q
Average Fixed Cost = 4000/Q
You can sell your output at a constant price of $600.
a) How much output should be produced at each plant?
b) What is the average total cost of production at each plant?
Efficiency is a hot topic in the media regarding transportation, energy, and many other industries. Elucidate how perfectly competitive markets use or do not use resources efficiently.
Mort'sOstrich Farm produces high-protein, low-fat ostrich meat forrestaurants and consumers. Mort's currently supplies a small numberof customers, but the firm believes it can increase the quantity itproduces and the price it charges with strategi..
What dangers are being shown by the rise in food and commodity prices? Explain. Why is it dangerous that the government is ignoring it?
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.
President Obama recently agreed in December with Republicans in Congress to extend existing tax cuts that were scheduled to expire December 31 and to create new tax cuts as well. Meanwhile, recent reports suggest that the economy may expand more.
felicity is studying economics and political science. she can read 30 pages of political science per hour but only 5
Explain the three criteria that are used to determine whether a particular variable is a worthy candidate to be selected as an intermediate target variable of monetary policy.
Give one example of a price floor and one example of a price ceiling.State the purpose of these legal prices and assess their impacts on the market.
They continue this way until either a) a plan has been approved, or b) only P5 is still alive (in which case he keeps the whole treasure). We'd like to know what happens with the treasure. Before we consider the outcome, there are a few important ..
Utilizing aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process by which each government policies will move the enconomy from one long-run macroeconomic equilibruium to another.
Explain how much more money has the Fed printed and where is it now. What affect will an increased M1 money supply have in the long-run.
a needy family of a mother and three children currently receives cash benefits that average 12 per day. the mother of
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