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Find out the firm's profit-maximizing Quantity Q, Price P, and economic profits or losses. If this firm operates in a monopolistically competitive market, what will happen in the long-run to Q, P and
If the Federal Reserve were to sell bonds, what would likely take place to the money supply and interest rates? Carefully describe (the money market graph would help).
Discuss why a firm in perfectly competitive market would select to remain in business, if its profit is zero at equilibrium. Describe any theories or concept you decide to employ to answer this ques
Illustrate out the term subsidy. Identify the economic winners and losers of the $300,000 subsidy. Explain what your city will have to give up because of the subsidy and what it will gain in the long
You should post a memo which you describe the factors that contribute to the elasticity of goods. You should also incorporate real-life example of price elasticity of demand.
What are voluntary export restraint (VER) agreements? Why do some governments force foreign exporters into them instead of just using quotas or tariffs to restrict imports by the same amounts?
Assume a firm is operating at the minimum point of its short-run average total cost curve, so that marginal cost equals average total cost. Under what circumstances would it select to alter the size
An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense
The Theory of the Firm document, the Friedman article, argue that main goal of firm in market economy is to maximize profit (shareholder wealth) over the long term.
Demand estimation is made difficult by the fact that customer self-interest often militates against accuracy of demand information gained through consumer interviews. True or false, explain.
The principles of economics influence your decision making, interaction with others, and the economy as a whole.
Enpar manufactures a single type of engine part for an automotive manufacturer. It operates two plants, A and B. Assume that total steel availability is 40 units. What is the optimal allocation betwee
Assume capital is fixed at 16 units. If the firm can sell its output at price of $100 per unit and can hire labor at $25 per unit, how many units of labor should the firm hire in order to maximize p
Compute the firm's optimal amount of capital and labor. Suppose wages fall to w=$500. Calculate the firm's optimal amount of capital and labor in this case.
Finally, assume once again that MCl=$20 and P=$50 but that labor productivity (i.e. output per labor-hour) is expected to increase by 25 percent over the next five years. What effect would this have
Consider manufacturer with two factories. They can produce at either factory or both. But, we need to consider the quantities that will be produced at each factory. The firm can sell its products in
Assume that Saudi Arabia lets other members of OPEC sell all the oil they want at the existing price which the Saudis set and other members accept. The daily world demand for OPEC oil is given by:
Find out the technical rate of substitution. Does the technology show diminishing technical rate of substitution? Explain.
A company want you to use rate of return analysis to evaluate the economics of buying the mineral rights to a mineral reserve for a cost of $1,500,000 at year 0 with the expectation that mineral dev
What three factors find out whether two economies with separate fiscal and monetary authorities must form a currency union? Write down an illustration of each factor by using NAFTA economies.
Cummins Engine Corporation of Columbus, Indiana take in advance to decrease the effect of the exchange rate fluctuation on company profitability?
What effect would a 30 % reduction in the number of new homes completed encompass on Mapco's sales (avoid the impact of the price cut of the Surefire trimmer)?
Calculate the arc price elasticity of demand over this price and consumption quantity range.
1) Compute the marginal cost curve for Ajax. 2) Given Ajax's pricing strategy, find out the marginal revenue function for Ajax?
Draw diagram showing effect on typical grower's average total cost curve. (i.e. sketch a "before" and "after" ATC schedule). Determine the effect of this technological change on minimum efficient