70- Price for factors of production

The Price for a factor of production is determined by: a) the intersection of the Marginal Revenue Product curve of the factor and the supply curve of the factor b) the elasticity of the supply curve of that factor c) the average marginal revenue of the factor d) all of the above e) none of the above

71 - the demands for factors of production

The demands for factors of production are ultimately determined by: a) each factor's marginal product b) the demand for final consumer goods c) the state of technology d) relative income distributions e) none of the above I say E - none of the above but then I think it could be B - the demand for final consumer goods. ...continues

Case Study Questions

Bonco, Incorporated: A Firm in Transition Bonco, Incorporated, produces a patented surgical device known as the incis-a-matic. The device has been sold successfully in the U.S. market, but it has been produced in two of the company's outdated plants, in Columbus, Ohio, and in Cincinnati, Ohio. Barry Cosgrove, a young econ ...continues

Marginal Costs equation in excel

I need to know how to figure the marginal costs in this spreadsheet. Can you provide me the equation? Thanks

Variable Cost in Xcel

I am working on the variable costs in the attached spreadsheet. The fixed costs are 25,000 and the only variable cost is the cost of adding one more passenger that equates to 50 per passenger. Would that make the equation for VC 50* quantity? Could you provide the equation. Thanks

Multiple Choice Microeconomics Practice Test

Microeconomics problems. Some of them are blurred out and dont need to be done. Thanks in Advance.

Monopolistic Competition and Oligopoly

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Profit Maximizing Employment

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stackelberg

I have changed the values and need the model to plug my numbers in. Please solve with explanations. 1. The inverse demand curve for a Stackelberg duopoly is P = 5,000 - 3Q. The leader's cost structure is CL(QL) = 1250 + 10QL. The follower's cost structure is CF(QF) = 250 + 20QF. a. Determine the reaction fu ...continues

game theory

Solve with expanation You are the manager of a firm in a new industry. You have gotten the jump on the only other producer in the market. You know what your competitor's cost function is, and it knows yours. Your products, although different to experts, are indistinguishable to the average consumer. Your marketing researc ...continues