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Output & Costs

Determine the supply curve

Please provide the solution to the following problem so that i can solve similar other. Please explain in detail as i need to understand. Cornell Pharamaceutical, INc., and Penn Medical , Ltd. supply generic durgs to treat a variety of illnesses. A major product for each company is a generic equivalent of an antibiotic used

Using the implicit function theorem to maximize profit

Assume that firm A produces good G using only labor. Therefore, the firm's output is a function of the quantity of labor hired (i.e. output = q(L)). Assume further that this firm receives a price (p) for good G and pays laborers a wage (w) that are both constant, and that the firm pays a constant health care cost (h) for eac

Problems with Cost Curves

4. What effect would each of the following have on a firm's short-run marginal cost curve and its total fixed cost curve? a. An increase in the wage rate b. A decrease in the property tax c. A rise in the purchase price of new capitol. d. A rise in energy prices. 5. Suppose that a firm's cost per unit of labor is $1