6.1a) A monopoly is facing the demand and marginal cost curves which is P = 12 - 0.002Q and MC = 3 + 0.001Q. When the demand curve is P = a- bQ‚ the marginal revenue curve will be MR = a- 2bQ ‚ therefore‚ MR = 12 - 0.004Q.(Refer to figure1) Figure 1 To maximize the profits‚ the company should produce at the output level where marginal revenue is equal to marginal cost. If the marginal revenue is higher than marginal cost‚ the firm can increase profit by producing more. If
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Karynn Ortiz Week 2 HW Chapter 3. Problem 2 Consider an economy in which taxes‚ planned investment‚ government spending on goods and services‚ and net exports are autonomous‚ but consumption and planned investment change as the interest rate changes. You are given the following information concerning autonomous consumption‚ the magical propensity to consume‚ planned investment‚ government purchases and goods and services‚ and net exports. Ca =1500-10r c=0.6 T=1800 Ip=2400-50r G=2000
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Chapter 12 - Money and Banking in the Developing Economy Bimetallic Standard - A monetary system in which a government recognizes coins composed of gold or silver as legal tender. The bimetallic standard backs a unit of currency to a fixed ratio of gold and/or silver. Central Bank - A public institution that manages a state’s currency‚ money supply & interest rates. Central banks also usually oversee the commercial banking system of their respective countries. Recession - A period of slow
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The following data represent 5 points on the supply curve for orange juice: PRICE ($ PER GALLON) QUANTITY (MILLIONS OF GALLONS) 1 100 2 300 3 500 4 700 5 900 and these data represent 5 points on the demand curve for orange juice: PRICE ($ PER GALLON) QUANTITY (MILLIONS OF GALLONS) 1 700 2 600 3 500 4 400 5 300 a. Graph the points of these supply and demand curves for orange juice. Be sure to put price on the vertical axis and quantity
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Based on the information provided for the market for video games‚ answer the following questions. PRICE Q DEMANDED Q SUPPLIED $50 5 9 $45 7 7 $40 9 5 $35 11 3 $30 13 1 a.) Draw and properly label the demand and supply graphs (this means you must label the axes and any lines you include on the graph). b.) What is the equilibrium price and quantity? a.) b.) PRICE: $45 QUANTITY: 7 Now‚ assume that a new government report claims that video game
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gas increases by $.20 per gallon. d. People will consume more beef if the price increases from $1 to $2 per pound. 3. Joe and Ed go to a diner that sells hamburgers for $5 and hot dogs for $3. They agree to split the lunch bill evenly. Ed chooses a hot dog. The marginal cost to Joe then of ordering a hamburger instead of a hot dog is a. $1. b. $2. c. $2.50. d. $3. 4. The expression‚ “There’s no such thing as a free lunch‚” implies that a. everyone has to pay for his own lunch.
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1. MGT-492 Quiz Questions 2. Which of the following is not a reason that people act positively to change? 3. The signs of _____________ resistance to change are identified as being critical‚ finding fault‚ verbalizing and expressing discontent (ridicule‚ using facts selectively) 4. The signs of _____________ resistance to changes are identified as agreeing verbally but not following through being a procrastinator or saying you will do something and don’t do it 5. ______________
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University of Phoenix Faculty Material Communication Quiz Final- Rosemary Clarke Underline the best answers to the following 30 multiple choice questions. Multiple Choice 1. COMMUNICATION IS DEFINED AS a. the sense that people extract from a message b. the social process in which individuals employ symbols to establish and interpret meaning in their environment c. the perceived rightness or wrongness of an action d. the ability to transmit one’s ethical decisions through proper channels 2. The
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Quiz 2 Answers (10 POINTS) Question 1 (2 points) The Hansen Company has 3 product lines of tires - X‚ Y‚ and Z with contribution margins of $3‚ $5‚ and $7 respectively. Management expects a sales mix as follows: 90‚000 units of tire X‚ 60‚000 units of tire Y‚ and 50‚000 tires of Z in September 2009. Hansen’s fixed costs are expected to be $552‚000 for the same month. 1. Determine the breakeven point in units for X‚ Y‚ and Z respectively 2. Determine the operating income at a total sales level
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According to Barbour and Wright‚ Congress Quiz 5 1. According to Barbour and Wright‚ Congress A. is rarely able to override a presidential veto. B. overrides a presidential veto about half of the time. C. overrides a majority of presidential vetoes. D. has not overridden a veto in the past fifteen years. E. does not override presidential vetoes because Congress members do not feel it is worth their time. 2. Barbour and Wright contend that the president’s public approval rating tends to be affected
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