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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?
1. # of sellers, # of buyers 2. entry and exit conditions 3. product characteristics 4. short run P&Q determinations and the resulting 3 possibilities for excess profit (graphs ar
uses of national income statistics
The Pigou effect: A) suggests that as prices fall and real money balances rise, consumers should feel less wealthy and spend less. B) suggests that as prices fall and real mo
what happens when there is changes in the quantity supply?
applicability of the lewis model in developing countries
Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. what cause fluctuate in supply?
Roles of government in controlling market forces under neoclassical view
State in brief the Nominal wage level In macroeconomics, we are generally not interested in the wage for a specific individual though in the average wage for all employed indi
In principle, outsourcing makes things a little inexpensive and enhance profitability. Though, some things require to be done 'in house'. For example, some employers (largely) outs
The Marginal Costs (MC) for a firm is given by the function MC=50x. Please find the Marginal Revenues (MR) for each of the following scenarios (if appropriate). Then, find the prof
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