# 1. The total costs (TC) functions for a company is: TC=

Get college assignment help at uniessay writers 1. The total costs (TC) functions for a company is: TC= 28,000 95Q – 0.025Q²; given that Q = 10. Calculate the following: (i) TFC; (ii) TVC; (iii) AFC; (iv) AVC; (v) AC; (vi) MC 2. Call Us demand function is Q =20 – 0.2P and the MC = 10 5Q. Given that TFC = \$2,000: a) Derive an equation for the TC. b) Calculate the profit at the profit maximizing level. 3. The production manager of a clothing manufacturer estimates that the total annual cost of producing suits is given by the equation TC = 5,000 4,100Q – 8Q² 0.004Q³ a) If the market price is constant, what is the shutdown level of output? b) What is the minimum price the firm can accept?

## How and why does a firm’s average total cost curve differ

How and why does a firm’s average total cost curve differ in the short run and in the long run?

## I. With convex isoquants, a firm’s expansion path cannot be negatively

I. With convex isoquants, a firm’s expansion path cannot be negatively sloped. II. If a firm uses only two factors of production, one of whose marginal product becomes negative when its use exceeds a certain level, then a cost-minimizing firm’s expansion path will have vertical or horizontal segements.

## III) Balance of Payments 4. Explain how each of the following

III) Balance of Payments 4. Explain how each of the following transactions generates two entries – a credit and a debit – in the American balance of payments accounts, and describe how each entry would be classified: a. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. b. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France and pays with a credit card. c. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. d. A U.S.-owned factory in Britain uses local earnings to buy additional machinery

## Visit U.S. Bureau of Economic Analysis at www.bea.gov and compute the

Visit U.S. Bureau of Economic Analysis at www.bea.gov and compute the percent- age of China in the U.S. current account deÖcit from 1999 to 2009.(Hint: From the BEA website, go to ëBalance of Paymentsíand click ëInteractive tables: Detailed estimatesí. Then, you can get the U.S. current account deÖcit from table 1 and transaction by country from table 12.)

## Calculate the t-statistics for each variable and explain what inferences can

Calculate the t-statistics for each variable and explain what inferences can be drawn from them. If R2 of this equation is 0.25

## The consumer price index and the GDP deflator are two alternative

The consumer price index and the GDP deflator are two alternative measures of the overall price level. Which of the following statements about the two measures is correct?

## The demand for or a good is given by the following

The demand for or a good is given by the following inverse demand function: P = 110 – 3Q. The supply curve of the same good is given by P = 10 Q. What is the price that sellers receive after a tax of \$20 is levied? \$30 \$50 \$20 \$40

## A firm can determine how many resource units to acquire by

A firm can determine how many resource units to acquire by comparing Marginal Revenue Product and Marginal Factor Cost, then continuing to acquire another unit so long as its MRP exceeds, or at least is no worse than, its MFC.

## Andy Freeman is a sales representative in a rural area, selling

Andy Freeman is a sales representative in a rural area, selling herbicides to farmers. He drives close to 1,000 miles every week that he is on the road. Many of the miles are on dirt roads. From an asset ownership point of view, what type of car should he buy?

## 12. Upon which of the following industries is a tight money

Get college assignment help at uniessay writers 12. Upon which of the following industries is a tight money policy likely to be most effective? A) residential construction B) furniture C) clothing D) food processing

## The House Rules Committee may do all of the following EXCEPT

The House Rules Committee may do all of the following EXCEPT a. set conditions for considering a bill. b. speed up consideration of a bill. c. prevent consideration of a bill. d. attach amendments to a bill.

## Your bank account pays an interest rate of 8%. You are

Your bank account pays an interest rate of 8%. You are considering buying a share of stock in XYZ Corporation for \$110. After 1, 2, and 3 years, it will pay a dividend of \$5.You expect to sell the stock after 3 years for \$120. Is XYZ a good investment? Support your answer with Calculations.

## a hard freeze eliminates a crop what will happen to the

a hard freeze eliminates a crop what will happen to the price of that product

## you want to start a company and are trying to decide

you want to start a company and are trying to decide between two different industries you are doing your final research before you write your final plan Industry A has 20 firms and a concentration ratio of 20% what is thew name for this type of industry? describe some of the industry’s charateristics, if you were in this industry and there was an incrreased demand for the product that pushed up the price of the goods what long run adjustments would you expect what does your anticipated adjustment process imply about the CR for the industry. industry B has 20 firms and the concentration ratio is 85%

## A “puppy boom” and an increase in the price of horse

A “puppy boom” and an increase in the price of horse meat would cause the market price of dog food to Answer rise, fall, or remain unchanged depending on the magnitude of the changes, and the market output to rise. rise and the market output to rise, fall, or remain unchanged depending on the magnitude of the changes. rise and the market output to rise . fall and the market output to rise, fall, or remain unchanged depending on the magnitude of the changes. none of the above

## Externalities are a. side effects passed on to a party other

Externalities are a. side effects passed on to a party other than the buyers and sellers in the market. b. side effects of government intervention in markets. c. external forces that cause the price of a good to be higher than it otherwise would be. d. external forces that help establish equilibrium price

## Make a table showing the value of marginal product for each

Make a table showing the value of marginal product for each screen from the first through the fifth.

## three alternative economic futures for the industry you have selected that

three alternative economic futures for the industry you have selected that might occur in the economy over the next 5 years. Explain the likelihood of the economic futures occurring.

## 1. How does self-interest help achieve society’s economic goals? Why is

1. How does self-interest help achieve society’s economic goals? Why is there such a wide variety of desired goods and services in a market system? In what way 2. Why is private property, and the protection of property rights, so critical to the success of the market system?

## Which statement about inflation is correct? Inflation will decrease the real

Which statement about inflation is correct? Inflation will decrease the real value of property assets and increase the real value of fixed-value assets Families are always hurt by inflation Inflation “subsidizes” those who receive relatively fixed money income The redistributive effects of inflation are arbitrary with respect to people and groups in society References

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