Economics of Enterprise Answers

An electric power plant uses solid waste for fuel in the production of electricity. The cost Y in dollars per hour to produce electricity is Y = 12 + 0.3X + 0.27X2, where X is in megawatts. Revenue in dollars per hour from the sale of electricity is 15X−0.2X2. Find the value of X that gives maximum profit

Discuss the relationship between the three short-run total cost curves and give an example.

The weekly demand function for a product Z sold by a given supermarket is 30, 000 units when its price was birr 2. A10% rise in the price of product Z results in the weekly demand to fall by 2000 units. Then drive The demand function

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A student has a job that leaves her with $300 per month in disposable

income. She decides that she will use the money to buy a car. Before

looking for a car, she arranges a 100% loan whose terms are $300 per

month for 48 months at 9% nominal annual interest. What is the

maximum car purchase price that she can afford with her loan?

Graphically illustrate the impact of the management’s restructuring decision on the firm’s production function. Your diagram should have the amount of human intelligence on the horizontal axis and the number of decisions on whether to provide insurance on the vertical axis. Fully label your diagram. Note that there are no actual numbers given in this question: you may make them up or simply use appropriate notations. Briefly explain the key information of your diagram