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If market price is $60, what is the maximum profit the firm can earn? a. -$10 b. zero profit, the firm shuts down. c. $75 d. $80 e. $85
(a) Is it possible for the society to produce 30 million tons of food per year? (b) Can it produce 30 million tractors per year?
Which is the first step in establishing a social responsibility program .Social responsibility must start at the top. A committee of top managers must develop a plan. Governmental initiatives must dic
Task: Calculate the total change in a year's GDP: Tone Artists, Inc. produces 100,000 new White Snake CD's that it prices at $15 a piece. Ten thousand CDs are sold abroad, but alas, the rest remain
Problem 1. Provide an example of a monopoly, an oligopoly, and a cartel. Problem 2. Discuss the welfare effects of monopolies and oligopolies.
A. Based on the following table, what is the profit maximizing output? B. How would your answer change if, in response to an increase in demand, the price of the good increased to $15?
Person A has property rights, meaning they can set the value of X from 0 to 8. Each person must have the same cost of negotiation with each other. What is the minimum per person transaction cost tha
Question 1: How is the case described in this application related to the monopolistic market? Question 2: Explain the difference between monopoly and monopsony.
a. Find and graph the average total cost curve for each plant size b. Draw Cathy's long-run average cost curve.
How can you justify the existence of government-granted monopolies for such public utilities as local telephone service, natural gas distribution, and electricity in the light of the traditional eco
Customers' without membership (and therefore no coupons) demand curve: X2(p, C)=32-(p/2) With price discrimination, what will be the profit maximizing official price, p and what will C be?
When two different types of consumers are separated in two markets, a profit-maximing firm may discriminate price if the two markets are completely separated and each market demand curve has a diffe
Given the following production function ,where x is an input and Q is output.Output sells for $10.00 per unit and inputs (X) are $20.00 per unit. Determine the optimal amount of input (X) to use in
What is the marginal revenue function for Zinger Company?
Question: What are some facors that give rise to economies of scale? and Diseconomies?
For each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
Q. If Wilbur has the right to peace and quiet, what will the number of flights allowed if Orville can negotiate? Q. What will be the value of Wilbur's house at the socially efficient number of flights
Question 1. When the CR = 80%, is the market efficient when the market behavior follows the price leadership model? Question 2. When the CR=80%, is the market efficient when the market behavior follow
If you were not word processing, you could earn $20,000 per year at an alternative job. Assume that the interest rate is 10%. You can also hire an assistant who can do everything that you can do for
How can real GDP per person be higher in one country than in another even if the first country has lower aggregate reeal GDP than the second?
There are many restaurants in the city of Raleigh, each one offering food and services that differ from those of its competitors. There is also free entry of sellers into the market, and each
Q1. Calculate Foust's after-tax cost of new debt and common equity. Calculate the cost of equity as D1/P0+g. 8.42/65.00+8% Q2. Find Foust's weighted average cost of capital.
Economists consider which of the following costs to be IRRELEVANT to a short-run business decision?
Q1. What is the firm's fixed cost, FC? Q2. What is the firm's variable cost, VC? Q3. What is the formula for the average cost, AC? Q4. What is the formula for the average variable cost, AVC?
1. What is the expected cash flow? 2. If the company's cost of capital is 10%, what is the expected net present value?