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Discuss the company's labor productivity, if the retail price for each respective service is $50, $200, and $120? Illustrate out the multifactor productivity, if the crew consisted of two of each type
Suppose a Monopoly market type and further suppose cost function = C (q) = 2Q and Demand function of P (q) = 10 - 24Q determine profit maximizing price and output.
What if firm employs 10 workers and pays each $15 per hour. Further suppose that the MP of the 10th worker is 5 units of output and that the price of the output is $4.
Critically discuss the economic implications of a movement along a nation's offer curve. Also explain why the offer curve is backward bending or forward bending.
How can the extent to which the presence of economies and diseconomies of scale in industry help account for the size and the number of firms in that industry?
The purpose of economics is to allocate scarce resources in manner that maximizes society's happiness and to their highest valued use. Do you agree?
Having difficult time in understanding subject of AVC relating decisions of output. Here is the type of question that is giving me difficulty. Please provide some insight.
Over the last 30 years Organization of Petroleum Exporting Countries (OPEC) has had varied success in forming and maintaining its cartel agreements. Discuss how the following factors may contribute
The major difference is that economic profit factors in implicit costs (sometimes called opportunity costs). Just what do we mean by opportunity costs anyway?
Discuss the nature of this functions scale of economies. Over what range of output does economies of scale exist? Diseconomies of scale? Show this on the graph.
The short-run marginal cost of the Ohio Bag Company is 2Q. Price is $100. The company operates in competitive industry. Currently, the company is producing 40 units per period.
A monopolist produces a single homogeneous good, which she sells in two distinct markets between which price discrimination is possible. Her total cost function is:
Identify Consolidated's total profit function. Supposing that Consolidated is effectively capable to charge different prices in the two markets, what are the profit-maximizing price and output
A monopolist produces a single homogeneous good, which he sells in two markets between which discrimination is possible. His total cost function is:
Determine the output level where marginal cost is at minimum? Determine output level where average variable cost is a minimum?
Firm is practicing first degree price-discriminaiton. The demand for the firm's product is defined as QD = 20-2P.
Which of the following is example of prisoners' dilemma? Firms in an industry increase their advertising expenditures, causing profits to rise.
A firm has a demand function and a total cost function as follows: P=$5,000-$3QCompute the optimal output and price. Assuming:
Indicate whether each of following statements is true or false and provide the reason. (a) A firm should stop expanding output after reaching diminishing returns
Evaluate the firm's annual net cash flows (NCF) for capital budgeting purposes for next 10 years, supposing that the new processing unit is purchased.
Illustrate out the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing marginal productivity?
Calculate the profit-maximizing level of output and price if the company sells all of its tickets at one price. Calculate the profit-maximizing level of output and price if it charges different prices
Assume the market price of sugar is 22 cents per pound. If sugar farmer produces 100,000 pounds, the marginal cost of sugar is 30 cents per pound.
Why is advertising prevalent in many oligopolies, especially when industry demand is inelastic? Describe your answer by supposing that with advertising, a firm's demand curve has price elasticity
Critically discuss two factors that would increase demand for labor. (Hint: Recall that the demand for factors of production or resources is called a derived demand)