Where is the price of peaches is income is the price of
The demand and supply functions for peaches are:
where is the price of peaches, is income, is the price of apricots, and is rainfall. Assume that and .
(a) Calculate the equilibrium quantity and price for peaches.
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A competitive firm can sell all of its output for the market price of $5. its short run cost function is TC= 1000 + Q + 0.005Q2. this cost function has marginal cost given by MC= 1 + 0.01Q.
Explain why this statement and the assumption that net receipts will be zero at an output where marginal revenue equals marginal costs are wrong.
Atwood's Machine The two masses (m1 = 5.1kg and m2 = 2.5kg ) in the Atwood's machine are released from rest, with m1 at a height of 0.95m above the floor. Determine the pulley's mass
One reason for government intervention in the economy is to discourage the consuption of goods which have negative externalities. Carefully explain why and the extent to which these goods should be taxed.
Where is the price of peaches, is income, is the price of apricots, and is rainfall. Assume that and .
Household wiring made of aluminum wire with cross-section area 3.1 x 10^-6 m^2 carries a current of 4.5 A. what is the power loss over 5.2 m of wire
A decision maker wishe to minimize the cost of producing a given level of total benefit, B = 288. The cost function is C = 6x + 3y and the total benefit is B = xy. Set up the Lagrangian adn then determine the levels of x and y at the minimum level of
In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:
Does LRMC =MR for Competition? Does LRMC =MR for Monop. Competition? Does LRMC =MR for Oligopoly? Does LRMC =MR for Monopoly? Does P=AC for Competition?
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