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Given the following demand and total cost functions for a firm
P = 4500 - 0.5Q2
TC = 1.5Q3 - 50Q2 + 1000
i) the marginal profit function
ii) the profit maximizing output level
iii) the price elasticity of demand, given that Q = 50 units
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i) Over this price range what
How equilibrium is achieved under monopoly
limitations
Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in
what are the properties of marshallian demand function
mang ki loch kya hai
Is it possible for a firm to experience a technological change that would increase the marginal product of labor while leaving the average product of labor unchanged?
Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun
Problem 1: i) Distinguish between the different types of concentration measures. ii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising.
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