7. Problems and Applications Q7 Consider a monopolistically competitive market with N firms. Each firm's business opportunities are described by the following equations: Demand: Q=240N−P Marginal Revenue: MR=240N−3Q Total Cost: TC=100+Q2 Marginal Cost: MC=3Q As N rises, the demand for each firm's product . How many units does each firm produce? 40N 40 40N 1,440N What price does each firm charge? 240N 200N 200N 280N How much profit does each firm make? 6,400N2−100 9,600N2−100 100+1,600N2 8,000N2 In the long run, firms will exist in this market.

Amanda rice has just arranged to purchase a $640,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has a 7 percent apr compounded monthly and calls for equal monthly payments over the next 30 years. her first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. there were no other transaction costs or finance charges. how much will amanda’s balloon payment be in eight years

You have recently been made a department head of the new regional office. in getting to know your departmental staff, you have noticed that one of your inexperienced employees is not following through on assigned tasks. she is enthused about her new job and wants to get ahead in the organization. which alternative represents the most effective leadership style: a. discuss the lack of follow-through with her and explore thealternative ways this problem can be solved. b. specify what she must do to complete the tasks but incorporate any suggestions she may have. c. define the steps necessary for her to complete the assigned tasks and monitor her performance frequently. d. let her know about the lack of follow-through and give hermore time to improve her performance.

What would not cause duff beer’s production possibilities curve to expand in the short run? a. improved manufacturing technology b. additional resources c. increased demand