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1. if the marginal cost of seating a theatergoer is $5 an the elasticity of demand is -3, the profit maximizing price is?
2. A firm determined that its total cost of production is TC=200 +10Q +5Q2. At 10 units of output, the firm's marginal cost is?
3. If output is produced according to Q=4LK, where L is the quantity of labor input and K is the quantity of capital input, the price of K is $10, and the price of L is $5, then the cost minimizing combination of K and L capable of producing 32 units of output is?
Statics and Dynamics Economic models deal with stock and flow variables. These variables can be in one of the two states - equilibrium or disequilibrium - at a particular poin
What is The law of comparative advantage The law of comparative advantage, though, suggests that it would be unwise of UK economy to try to replicate German model. First German
1) Consumption is positively related to stock market wealth but negatively related to taxes and tax rates.
How would I solve and graph this problem C=$1 (trillion)+.80Yd
Government revenue, government spending and net exports G, NT and NX are exogenous variables in the classical model In the classical model (and
how is credit creation by commercial bank
Assume an economy that is operating above full employment. A. Draw a correctly labeled AD/AS graph showing: i. the problem in the economy ii. current price level and output iii. fu
The market for quits is initially competitive and the market demand is: P=400-0.4QD. The Combined marginal costs of the firms in the quit industry are: MC=50+0.6Q. a. Draw the
Evaluate the Bergson social welfare functions
In 2009, ABC Company made $2M of net profit and spent $100,000 on advertisement. In 2010, it made $2.5M of net profit and spent $150,000 of advertisement. Based on this information
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