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Clearly type out your answer to parts (A). (B) and (C) in the space provided. Retain...
Question 25 6 pts Clearly type out your answer to parts (A), (B) and (C) in...
Question 25 6 pts Clearly type out your answer to parts (A), (B) and (C) in the space provided. Retain all of your handwritten work for this question to be uploaded separately after you have completed the exam. Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 10q - 2q? +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the...
Every farmer in the perfectly competitive market for almonds have the same long run cost function,...
Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 109 - 2q2 +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the number of farms in the market if demand is 10,000 pounds of almonds? (C) If there is a shortage of bees to pollinate the almond trees, what will happen to the supply of almonds, the number of firms...
Every farmer in the perfectly competitive market for almonds have the same long run cost function,...
Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 100 - 2q2 +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the number of farms in the market if demand is 10,000 pounds of almonds? (C) If there is a shortage of bees to pollinate the almond trees, what will happen to the supply of almonds, the number of firms...
Question 24 6 pts Clearly type out your answer to parts (A), (B) and (C) in...
Question 24 6 pts Clearly type out your answer to parts (A), (B) and (C) in the space provided. Retain all of your handwritten work for this question to be uploaded separately after you have completed the exam. Given the following long run production and cost functions: 9 = 1362 C = 15L +3K (A) What input has diminishing marginal returns? (B) Does this production function display increasing, decreasing or constant returns to scale? (C) What is this firm's expansion...
A watermelon farmer is operating in a perfectly competitive market. The market price of watermelon is...
A watermelon farmer is operating in a perfectly competitive market. The market price of watermelon is $5 per pound and each farmer produces 1,000 pounds per week. The average variable cost per unit is $3 per pound and the average fixed cost per unit is $1. a. What is a watermelon farmer’s profit in the short run? Explain. b. What happens to the total number of farms in the long run? Why? c. If technology reduces the cost of watermelon...
Clearly type out your answer to parts (A), (B) and (C). A community consists of 5...
Clearly type out your answer to parts (A), (B) and (C). A community consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal. (B) Would it result in equality? (C) What is a way to incentivize studying and create more equality?
Clearly type out your answer to parts (A) (B) and (C). A community consists of 5...
Clearly type out your answer to parts (A) (B) and (C). A community consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal. (B) Would it result in equality? (C) What is a way to incentivize studying and create more equality? HTML File
Question 25 6 pts Clearly type out your answer to parts (A), (B) and (C) in the space provided. Retain all of your handwritten work for this question to be uploaded separately after you have completed the exam. Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 10q - 2q? +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the...
Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 109 - 2q2 +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the number of farms in the market if demand is 10,000 pounds of almonds? (C) If there is a shortage of bees to pollinate the almond trees, what will happen to the supply of almonds, the number of firms...
Every farmer in the perfectly competitive market for almonds have the same long run cost function, where q is pounds of almonds: C = 100 - 2q2 +(1/6)q3 (A) What is the market price for almonds per pound? (B) What is the number of farms in the market if demand is 10,000 pounds of almonds? (C) If there is a shortage of bees to pollinate the almond trees, what will happen to the supply of almonds, the number of firms...
Question 24 6 pts Clearly type out your answer to parts (A), (B) and (C) in the space provided. Retain all of your handwritten work for this question to be uploaded separately after you have completed the exam. Given the following long run production and cost functions: 9 = 1362 C = 15L +3K (A) What input has diminishing marginal returns? (B) Does this production function display increasing, decreasing or constant returns to scale? (C) What is this firm's expansion...
Clearly type out your answer to parts (A), (B) and (C). A community consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal. (B) Would it result in equality? (C) What is a way to incentivize studying and create more equality?
Clearly type out your answer to parts (A) (B) and (C). A community consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal. (B) Would it result in equality? (C) What is a way to incentivize studying and create more equality? HTML File
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