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suppose marginal cost and average cost are given by the following expressions mcx3x12 acx2x12 what is the profit
suppose labour and capital are perfect complements in particular the producer needs to use 2 units of labour for each
vera has a utility function vfc fca what is her mrs of food for clothing the marginal utility from food mufc and the
hourly wage quantity of labor supplied quantity of labor demanded75 530000 65000085 550000 63000095 570000
suppose that a small town has seven burger shops whose respective shares of the local hamburger market are as
what is the difference between substitution and perfect substitutioncomplementary and perfect complementarysuppose
a consumer consumes two goods x1 and x2 to figure how the quantity demanded of the good x1 changes after the price of
suppose you could buy shoes one at a time rather than in pairs what do you predict the cross-price elasticity for left
if the price of good a falls from 4 to 3 and the quantity demanded of good b rises from 2 to 4 what is the cross-price
give an example of a household consumption good or service that the law of diminishing marginal utility does not
define the law of diminishing marginal utility explain two instances where the law of diminishing marginal utility
suppose amys utility function is 4xy where x is consumption of beer and y is consumption of pizza does the principle of
elasticities of demand anbspif the quantity demanded 600 - 075 p price - 220nbspis demand elastic or inelastic at this
derivation of the market demand curveassume the individual demand curves for three consumersq demanded daniel 10 - 005
question 1nbspconsumer and producer surplus q demanded 1350 - 3 p q supplied - 250 5pa price ceiling is set at 120
assume xyz company produces table and chairs with the following total cost function tc1000010q02q2 where qquantity of
jacks utility function over dance show tickets d and baseball game ticketsb can be expressed as ud b d 5ba what is the
suppose a firm has a short-run cost function determine the fixed cost f the variable cost function vc marginal cost mc
microeconomics and macroeconomicsnbspassume that a firm in a competitive market can sell its product for 35 ie price
adam and barb go to thr store to buy lottery tickets adam says i will take 10 lottery tickets while barb says i will
use opportunity cost concepts is this statement true or falsewhen choosing among alternatives the alternative with
why the price of a good and service is less than the cost of the good and service due to the existence of opportunity
a firm minimizes its costs by using inputs such that the marginal product of labor is 10 and the marginal product of
what are the main reasons for dji competitiveness in the drone marketwhat are the main differences in the customers
case study 1case study exxon mobil - stewardship leadership corporate social responsibility refer to p 229 tricker