Assume that the gold-mining industry is competitive.

Illustrate a long-run equilibrium using diagrams for the gold market and for a representative gold mine.

You are thinking about setting up a lemonade stand. The stand itself costs $\$ 200$. The ingredients for each cup of lemonade cost $\$ 0.50$.

a. What is your fixed cost of doing business? What is your variable cost per cup?

b. Construct a table showing your total cost, average total cost, and marginal cost for output levels varying from $0$ to $10$ gallons. (Hint: There are $16$ cups in a gallon.) Draw the three cost curves.

You are thinking about setting up a lemonade stand. The stand itself costs $200. The ingredients for each cup of lemonade cost$0.50. a. What is your fixed cost of doing business? What is your variable cost per cup? b. Construct a table showing your total cost, average total cost, and marginal cost for output levels varying from 0 to 10 gallons. (Hint: There are 16 cups in a gallon.) Draw the three cost curves.

Draw the marginal-cost and average-total-cost curve for a typical firm. Explain why the curves have the shapes that they do and why they cross where they do.

Draw the marginal-cost and average-total-cost curves for a typical firm. Explain why the curves have the shapes that they do and why they cross where they do.

Suppose there are 1,000 hot pretzel stands operating in New York City. Each stand has the usual U-shaped average-total-cost curve. The market demand curve for pretzels slopes downward, and the market for pretzels is in long-run competitive equilibrium.

Draw the current equilibrium, using graphs for the entire market and for an individual pretzel stand.

Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is $30.

What is the short-run effect on profits? Illustrate your answer with a graph

Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is $30.

Assuming that U.S. textile producers have large fixed costs, what is the short-run effect of these imports on the quantity produced by an individual producer?

Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is $30.

Describe the equilibrium using graphs for the entire market and for an individual producer. Now suppose that textile producers in other countries are willing to sell large quantities of cloth in the United States for only$25 per unit.

Many small boats are made of fiberglass, which is derived from crude oil. Suppose that the price of oil rises.

What happens to the profits of boat makers in the short run? What happens to the number of boat makers in the long run?

Many small boats are made of fiberglass, which is derived from crude oil. Suppose that the price of oil rises. a. Using diagrams, show what happens to the cost curves of an individual boat-making firm and to the market supply curve. b. What happens to the profits of boat makers in the short run? What happens to the number of boat makers in the long run?

What is meant by a competitive firm?

Evaluate the integral by reversing the order of integration. integral 0 to 1 integral arcsiny to pi/2 cosx (1+cos^2x)^1/2dxdy

Find the local maximum and minimum values and saddle point(s) of the function. If you have three - dimensional graphing software, graph the function with a domain and viewpoint that reveal all the important aspects of the function.

$$f(x, y) = x^3 - 3x + 3xy^2$$