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There are two firms in an industry, each owning one plant. Firm 1 has supply function P = 10 + 0.01Q1 (which is the marginal cost of its plant), and Firm 2 has supply function 0.005Q2 + 0.00001Q22
Additional projected costs are $1,000 for insurance and $3.20 per unit for materials and supplies. Their fruit smoothies would be priced at $5 per unit. A.) What is the accounting cost function for
There are 6 tokens on the table. Two players alternate removing some of the tokens. In each move any player can either remove exactly one or exactly two tokens. Whoever removes the last token is the
Write down the unit cost of producing one yard of cloth and one calorie of food as a function of the price of one machine-hour, r, and one work-hour, w. In a compet- itive market, those costs will b
Assume the economic activity of the economy in a given year consists of the following: Steel producers fabricate Php. 4 billion of farm machinery, which is sold to farmers; Farmers produce 40 mi
Three students have each saved $1000. Each has an investment opportunity in which he or she can invest up to $2000. The rates of return on the students' investment projects are: Harry: 5% Ron: 8% He
A farmer grows wheat, which he sells to a miller for $100. The miller turns the wheat into flour, which he sells to a baker for $150. The baker turns the wheat into bread, which he sells to consumer
Given the CES utility function: U(X,Y)=((X^d)/d)+((Y^d)/d)) a. Show that the first-order conditions for a constrained utility maximum with this function require individuals to choose goods in the p
if the banks Deman Deposit is 7 billion, Actual Reserve is 1 billion reserve riquirement is 10% Required Reserve is 700,000,000 Excess Reserve 300,000,000 the Money Multiplier is 10. how much addition
discuss the major barriers to entry into an industry.explain how each barrier can foster either monopoly or oligopoly.which barriers , if any do you feel give rise to monopoly that is socially justi
Buy a new car for $14,500. Salvage value is expected to be about $5000 after 3 years. Maintenance and insurance cost is $1000 in the first year and increases at the rate of $500/year in subsequent y
speciality machining inc bought a new multi turret turning center for $250,000. the machine generated new revenue of $80,000 per year. operating costs for the machine averaged $10,000 per year.
Xon, a small oil company, purchased a new petroleum drilling rig for $1,800,000. Xon will depreciate the drilling rig using MACRS depreciation. The drilling rig has been leased to a drilling company
Suppose a firm producing a commodity X is a price taker. The prevailing market price for X is Php. 20. The firm's cost is given by TC=(0.1q^2)+10q+50 where q=the number of X the firm chooses to prod
Assume that an entrepreneur's short-run total cost function is C=(q^3)- (10q^3)+17q+66. Determine the output level at which he maximizes profit if p=5. Compute for the output elasticity of cost at
Suppose that a firm's production function is given by the Cobb-Douglas function q= (K^a)(L^ß) and that the firm can purchase all the K and L it wants in competitive input markets at rental rat
The Swiss Central Bank currently targets its money growth rate to achieve policy objectives. Suppose Switzerland has output growth of 3% and money growth of 8% each year. What is Switzerland's infla
Find the optimum commodity purchases for a consumer whose utility function and budget constraints are U=(x^1.5)(y) and 3x+4y=100 respectively. a. Show that the first-order conditions for a constrain
The owner of a manufacture business is losing profit due to a slow economy and is debating on closing the manufacture down until the economy gets better. Decide to close the manufacture based on the
Farmers produce 40 million sacks of rice, which is sold for Php. 25 billion to millers. The farm machinery depreciates Php. 2 billion, Millers process the rice and keep half in inventory, value
H-P is said to be the leading seller of PC's in the U.S. with 27% share of the PC market. If a researcher selects 130 recent PC purchases, use the normal approximation to the binomial to find the pr
A company currently sells 45 units a week at $210 per unit. The marginal cost of each unit is $155. The company is considering increasing the price by 2.6%. The company believes that this price disc
This would cover years 4 and 5, after the manufacturer's warranty has expired. Suppose that the expected repair costs for years 4 and 5 are $850 per year. If your discount rate is 5.5% per year, sho
If consumer income decreases by 3.2%, what is the expected percent change in consumer demand (assuming there are no other changes that would affect demand for coffee - no price changes)
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue Continue producing at the current output le