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given the cost function as C=0.3Q3-2Q2+13Q+25,find the supply function
"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
Jeremy is an economics student who loves hamburgers. He could eat any number of them for dinner, but he gets a really bad stomach ache after eating a certain amount. In fact, his u
a more simple explanation of the group equilibrium in the short and long run
(1) The demand curve for oranges is given by the equation P = 5 – Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars p
unique product
Income Elasticity of Demand is described below: Income elasticity of demand is the percentage change in the quantity demanded/required with respect to the percentage change in
You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfec
if australian governmrnt imposed a sales tax on petrol by $0.25, then the price of petrol will rise by 0.25. consumers can not get by without petrol, so they have to pay the whole
This is the practice of maximizing profits and revenues and minimizing costs, using marginal analysis.
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