Use the information about marginal cost (MC) and
marginal revenue (MR) that is presented in the table
below to determine the profit maximizing level of output.
A baseketball company is considerign purchasing a new
machine that doubles capacity from producing 100 balls to
200 balls per day. The machine will occupy 1,000 square
feet of unused space on the facotry floor. Which costs are
irrelevant in this decision to purchase a machine?
Regression analysis was used to estimate the following
linear trend equation:
St = 10.5 + 0.25 t
Use this equation to forecast the value of the dependent
variable (St) in time period of 10
In a free-enterprise system, profit is socially desirable
because it
If you are trying to determine the value of a firm, which of
the following factors would be relevant?
A firm that has total fixed costs of $40,000 sells its output
for $250 per unit and has an average variable cost of $150.
If the firm's cost and revenue curves are linear, how much
output must the firm produce to break even?
A firm currently produces 2,500 units of output per week.
After an additional worker is hired, output rises to 2,620
units per week. If the weekly wage paid to a worker is
$480, what is the firm's short-run marginal cost?