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Diagram 2 Using the space below, draw the diagram relating average & marginal revenue and average...
Explain the difference between the economically optimal harvest, the maximum sustained yield, the open-access equilibrium for...
Explain the difference between the economically optimal harvest, the maximum sustained yield, the open-access equilibrium for a fishery. Illustrate the answer with a graph showing a marginal cost curve and a marginal revenue curve. Clearly label both axes.
2. Consider Gordon's model of common property resources. Consider the Gordon Model for a Common Property...
2. Consider Gordon's model of common property resources. Consider the Gordon Model for a Common Property Resource depicted in the diagram below Average Revenue Product MC Effort AC Effort 20 Effort (Number of vessel-Days) 10 40 Marginal Revenue Product What is the a. Level of effort that will lead to extinction of the resource i. ii. Level of effort that will produce the maximum sustainable yield ill. Optimal level of effort that will maximize the value of the resource iv...
Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve.
3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with...
39) The figure below gives the marginal cost and average variable cost curves for 1 rutabega...
39) The figure below gives the marginal cost and average variable cost curves for 1 rutabega farmer. Given your answers to questions 36-38, draw in the farmer's marginal revenue curve. Revenue and cost (dollars per unit) MC AVC A 50+ ATA 0 10 20 30 40 50 Output (units per day) 40) How much will the farmer produce? 41) What are the farmer's profits? 42) What happens to this market in the long run? Do firms enter or exit? For...
Hello below is the question , Many thanks for your help :) A competitive firm uses...
Hello below is the question , Many thanks for your help :) A competitive firm uses two inputs, capital (?) and labour (?), to produce one output, (?). The price of capital, ??, is $1 per unit and the price of labor, ??, is $1 per unit. The firm operates in competitive markets for outputs and inputs, so takes the prices as given. The production function is ?(?,?)=3?0.25?0.25. The maximum amount of output produced for a given amount of inputs...
Question 2 (15 points) Continuing your analysis of the competitive US manufacturing industry from Question 1,...
Question 2 (15 points) Continuing your analysis of the competitive US manufacturing industry from Question 1, with demand of Q = 200-P and supply of Q. = P-20, suppose a technological innovation causes the supply curve to shift down by $20 for every given quantity Q. • Depict the original supply, the new supply, and the original demand curves on the usual P, Q diagram. Label all intercepts. Clearly indicate and label the new market equilibrium. 2/8/2 compass 20 Mlinois.edu/bbcswebdavipid-4037356-dt-con020%20ECON528%20M6...
NEED ALL ANSWERS PLEASE Problem 3 [24 marks] A competitive firm uses two inputs, capital (k) and labour (), to produce...
NEED ALL ANSWERS PLEASE
Problem 3 [24 marks] A competitive firm uses two inputs, capital (k) and labour (), to produce one output, (y). The price of capital, W, is S1 per unit and the price of labor, wi, is SI per unit. The firm operates in competitive markets for outputs and inputs, so takes the prices as given. The production function is f(k,l) 3k025/025. The maximum amount of output produced for a givern amount of inputs is y(k, l)...
MICRO Economics ASSIGNMENT Total marks= 20 Answer the below questions. 1. The economy of the university...
MICRO Economics ASSIGNMENT Total marks= 20 Answer the below questions. 1. The economy of the university town of Avicenna produces two and only two commodities: yoga lessons, and triple lattes. The economy is able to produce any of the following combinations of yoga and lattes per day: CLO 1 [4 MARKS] Daily Production in Avicenna Combination Yoga Lessons Triple Lattes A 5000 0 B 4000 9000 C 3000 16000 D 2000 21000 E 1000 24000 F 0 25000 a) Using...
2. Consider Gordon's model of common property resources. Consider the Gordon Model for a Common Property Resource depicted in the diagram below Average Revenue Product MC Effort AC Effort 20 Effort (Number of vessel-Days) 10 40 Marginal Revenue Product What is the a. Level of effort that will lead to extinction of the resource i. ii. Level of effort that will produce the maximum sustainable yield ill. Optimal level of effort that will maximize the value of the resource iv...
39) The figure below gives the marginal cost and average variable cost curves for 1 rutabega farmer. Given your answers to questions 36-38, draw in the farmer's marginal revenue curve. Revenue and cost (dollars per unit) MC AVC A 50+ ATA 0 10 20 30 40 50 Output (units per day) 40) How much will the farmer produce? 41) What are the farmer's profits? 42) What happens to this market in the long run? Do firms enter or exit? For...
Question 2 (15 points) Continuing your analysis of the competitive US manufacturing industry from Question 1, with demand of Q = 200-P and supply of Q. = P-20, suppose a technological innovation causes the supply curve to shift down by $20 for every given quantity Q. • Depict the original supply, the new supply, and the original demand curves on the usual P, Q diagram. Label all intercepts. Clearly indicate and label the new market equilibrium. 2/8/2 compass 20 Mlinois.edu/bbcswebdavipid-4037356-dt-con020%20ECON528%20M6...
NEED ALL ANSWERS PLEASE
Problem 3 [24 marks] A competitive firm uses two inputs, capital (k) and labour (), to produce one output, (y). The price of capital, W, is S1 per unit and the price of labor, wi, is SI per unit. The firm operates in competitive markets for outputs and inputs, so takes the prices as given. The production function is f(k,l) 3k025/025. The maximum amount of output produced for a givern amount of inputs is y(k, l)...
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Amplitude=3;
fs=8000;
n=0:399;
t=0:1/fs: n*1/fs-1/fs;
signal=3+3*cos(2*pi*1100*t)+3*cos(2*pi*2200*t)+3*cos(2*pi*3300*t);
fftSignal= fft(signal);
fftSignal=f ftshift (fftSignal);
f=fs/2*linspace(-1,1,fs);
plot(f,abs(fftsignal);
xlabel('Frequency(Hz)’)
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