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Question: Appalachian Coal Mining believes that it can increase labor productivity and, therefore, new revenue by reducing air pollution in its mines. It estimates that the marginal cost function for…

Question: Consumer and Producer Surpluses: Given the demand function and the supply function , find the consumer and producer surpluses. Solution: The solution consists of 67 words (1 page)Deliverables: Word…

Question: Wyandotte Chemical Company sells various chemicals to the automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15/gallon. Fixed costs of mfg.…

Question: A firm’s production function is given by: Q=K2L The wage rate is w = 10 and the rental rate of capital is r = 20. Suppose the firm wants…

Question: Two months ago, the owner of a car dealership (and a current football star) significantly changed his sales manager’s compensation plan. Under the old plan, the manager was paid…

Question: Suppose the demand for a product is QD = 100 – 0.04P and supply is Qs = -20 + 0.06* P. a. What is the equilibrium market price and…

Question: Using the graph shown, determine the value of each of the following (note this could be a tax on sellers or a tax on buyers, as we discussed in…

Question: Suppose that the production function for a commodity is given by Q = 10√LK where Q is the quantity of output, L is the quantity of labor, and K…

Question: An automobile company can either produce trucks, cars or both. The cost of producing trucks or cars or both can be expressed by one function: C(qt , qc) =…

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