Question 1 Suppose total benefits from producing Q outputs are given by TB = 12Q1/2, and total costs are given by TC = 1/12 Q. Suppose the firm chooses the optimal level of output to maximize its net profits, and the firm receives the maximum net profits every year, starting in the first year, forever. If the interest rate is %5, what is the present value of the profits over the firm's lifetime? Question 2 Suppose the price elasticity of demand for a firm's specific product is given by E = 2*(0.5-57/Q). What quantity maximizes the firm's total revenue? Question 3 Suppose the short-term average total cost is given by AVC = 1,715+4Q. What is the marginal cost at Q=37?

All raw materials are objects of work, but not all objects of work are raw materials. Select one: a)True b)False

In the Disney movie Frozen, the Kingdom of Arendelle changes overnight from a warm, flower filled place to being completely frozen (the story takes place in July).  Just after this change in weather, there is a scene where two characters visit a trading post.  At the trading post one character (Kristoff) is looking to buy winter transportation equipment and eventually sell some ice.  The other character (Anna) is looking to buy some winter clothes.  A link to the scene can be found in the module. For this assignment, please show how this change in weather would likely effect the markets for winter transportation equipment, winter clothes, and ice (assume the ice would be used by people who want to cool drinks).  Specifically, draw a new supply or demand curve for the products and identify new equilibrium quantity or supply if you think the change in weather would have an impact on any of those measurements. In the clip Kristoff calls Oaken a crook for charging higher prices than he…

Refer to the exhibit ...what does a movement from point G to F means?

What do you mean by consumption goods? Give example also.