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Derive the total, average, and marginal revenue schedules from Q=0 to Q=6 by 1's. Explain why your answer to part (a) is an example of marginal analysis and optimizing behavior in general.
Calculate the Disposable Income (DI) at each level of GDP. If the government increases spending by $100, what would be the new equilibrium value of GDP?
A price-taking firm is selling 100 units of a good for the market price. If the marginal cost of the 100th unit is higher than the marginal revenue of that unit.
Design an alternative author-compensation scheme under which the author and the publisher would pick the same price.
Assuming the manufacturer cannot price discriminate but can bundle the products or sell them separate, which of the options below maximizes its revenue?
Write out the equation for Frank's budget line and illustrate it in a diagram with Cp on the horizontal axis and Cf on the vertical axis. What is the relative price of Cp? Identify it on your diagra
Explain why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Government expenditure equals $225 billion, investment equals $500 billion, and net exports equals $150 billion. What is national savings?
First, explain why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Calculate the four combinations of outputs of corn and rice for these four plans. Plot them as points in this graph. (It does not matter what order you use to plot the points.
Show that Frank would prefer that the government not tax interest income but rather tax his current earnings by $0.25 M.
The wage rate is £5 and the rental rate (cost) of capital is £2. Calculate the lowest cost method of making 4, 8 and 12 units of output. There are two methods of producing each level of
Calculate the price and quality levels that a monopolist would choose, and the corresponding quantity sold. Consumer surplus at any {s, q} combination can be derived as 1/2sq^2.
Sam charged 50 cents for an 8-ounce cup of lemonade, and Alex across the street charged 15 cents for an 8-ounce cup of lemonade. What is most likely to happen?
A facility for a production plant can be purchased for 155,000 with a down payment of 25,000. Consider the following two options. what is the effective interest rate of the combined mortgage.
At what level of output are total profit maximized? What price will be charged? What are total profits at this output level? What model of market pricing has been assumed in this problem? Justify your
Sunrise Juice Company sells its output in a perfect competitive market. The forms total cost function is given in the following schedule: What is the firms profit maximizing output level?
Use the following data for a pure monopoly to calculate the firm's: (a) total revenue, marginal revenue, marginal costs, and average total cost; (b) its profit-maximizing output level and produce pr
How is this shifting of AD curve going to affect the price level and output level of the economy? What would be the effect on the demand of money?
The acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." Explain why you agree or disagree with such a statement.
Where Q is the number of units produced per year. Suppose the firm employs 25 units of capital. What is the total product, average product.
National Income and product data are revised. What effects would the following revisions have on consumption, investment, and GDP of US?
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
What was the inflation rate they both expected? If there was a capital gain tax of 30 percent, what is the after-tax real interest rate, with the inflation rate of 8 percent?
Does the Mincer model take unequal access to education into account? Discuss the shortfalls of this model in that it does not take into account unequal access to education resulting.