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The firm is considering manufacturing a second product in its factory alongside the first. The demand functions for the two products are: Qd1=180 - 4P1
Qd2=90 - 2P2 where the subscripts 1 and 2 refer to product 1 and product 2, respectively. The firm now faces a total cost function: TC= Q+150where Q= Q1 + Q2
a) Dtermine the new total profit function for the firm as a function of Q1 and Q2.
b) Using your new profit function measured in part (b)(i) find the level of output for every product at the profit maximising point and display your outcome is a maximum.
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The equilibrium conditions for three related markets are given by: (a)Write this system of equations in matrix notation of the form Ax = B. (b) Find the determinant
estimate the determinants of demand of a firm or several firms within a particular industry or country
The following regression was estimated to explain the inflation rate in the USA. The data set contains annual observations from 1970 to 2010. Inft = 2500 + 50*Xt +
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A brief summary of the procedure of maximum likelihood.
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Define McKinsey & Company's present "core competence" in terms used by Hamel & Prahalad and state how it fits with McKinsey's longer term vision. Answer) McKinsey an
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