Consider a competitive industry in which each firm has the following total cost function: c(q) = aq + 16q - 8q^2 + q^3. market demand for the good is given by q = 120 - 4p.

a. derive the expressions for each firm's average cost and marginal cost as functions of q.
b. verify that regardless of the value of the constant a, these curves meet at q = 4. do they meet anywhere else?
c. what is the short-run supply curve of each firm? explain.
d. suppose that a = 10 and initially that there are 10 firms. describe the long-run adjustments in the industry assuming any new firms have the same production costs.
e. verify that there would be 15 firms in total in the long run if a equals the number of firms in the industry.

Who is better at multi-tasking? in business, employees are often asked to perform a complex task when their atten-tion is divided (i.e., multi-tasking). human factors (may 2014) published a study designed to determine whether video game players are better than non–video game play-ers at multi-tasking. each in a sample of 60 college stu-dents was classified as a video game player or a non-player. participants entered a street crossing simulator and were asked to cross a busy street at an unsigned intersec-tion. the simulator was designed to have cars traveling at various high rates of speed in both directions. during the crossing, the students also performed a memory task as a distraction. two variables were measured for each student: (1) a street crossing performance score (measured out of 100 points) and (2) a memory task score (measured out of 20 points). the researchers found no differences in either the street crossing performance or memory task score of video game players and non-gamers. “these results,” say the researchers, “suggest that action video game players [and non-gamers] are equally susceptible to the costs of dividing attention in a complex task”

Which are the best examples of costs that should be considered when creating a project budget?

To appeal to a new target market, the maker of hill's coffee has changed the product's package design, reformulated the coffee, begun advertising price discounts in women's magazines, and started distributing the product through gourmet coffee shops. what has been changed? a. the product's perceptual value. b.the product's 4ps. c. the method used in its target marketing. d. the ownership of the product line. e. the product's utility.