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Given a producer whose marginal cost function is given by the equation MC(Q)=1, and the fixed cost, what is the average variable cost of producing 10 units?
Which opinion do you agree with, why, and how do you believe this will affect the ability of journalists (all types) to report the news?
A local store estimates its typical customer's inverse demand is P = 9.4 - 2Q, and it knows the marginal cost. what should the price for the entire package?
What factors has the firm taken to avoid market failure at a macro-level? How does the firm affect our macroeconomy with regard to economic output?
How does cruising for parking impact low-income families and people of color economically as it relates to economics and equity?
This chapter emphasized the ability of an orderly system to emerge without someone. How does the evolution of language illustrate a type of spontaneous order?
Discuss how the chosen company achieves market equilibrium in the short-run and long-run based on its identified market structure.
We discussed the impact of an import tariff per unit on equilibrium price and quantity. Draw a supply and demand graph to show this is true.
Analyze the welfare implications (including possible deadweight loss) of 3 mitigation options. Which mitigation strategy, if any, do you recommend and why?
Many U.S. states have minimum price laws for cigarettes. Assume that the demand equation for cigarettes is QD = 4,000 - 300P. Draw the graph and show your work.
At what output level would the monopolist produce? At what output level would a perfectly competitive firm produce?
Define y explica el equilibrio de Nash. Define y explica que es un juego normal. Define y explica qué es una estrategia mixta
How many trips would Veronica make if she were risk-neutral? Would Veronica's preferred strategy change if the bus fare were increased to $3?
If you want the fund to be able to award two $25,000 skater-ships a year in perpetuity, how much do you need to deposit into the fund now?
Discuss the nonbinding price ceiling would become binding and the market would find a method other than price to ration the good to buyers.
What specific activities are being incentivized by this tax structure? Do you expect that these taxes would be progressive, regressive, or proportional?
What are the impacts of government and market imperfections (failures) on the price elasticities of demand and supply?
A city plans to upgrade its storm water management infrastructure. What is the capitalized worth of the project? What is the EUAC of the infrastructure?
Explain the comparative advantage concept in the case of 2 countries of your choice.
The marginal cost of the 36th unit of output is P7. If the firm choose to produce the 36th unit of output, what will happen to average variable cost? Explain.
What is total product, average product, and marginal product? What is the law pf diminishing marginal returns?
Would cause a shift to the right in the supply and as a result the earnings of those who studied will decrease? Why or why not?
Explain, USING DIAGRAMS, why the profit-maximizing choices of a monopoly firm lead to allocative inefficiency (welfare loss) and productive inefficiency.
Draw, and clearly label, the market for vinyl records. Identify equilibrium (E1), as well as the equilibrium price (P1) and quantity (Q1).
Describe the factors U.S. cellular service providers have taken to avoid market failure at a macro-level.