Consider the demand function for processed pork in​ Canada, Qd​ = p ​+ 20 ​+ 3 ​+ 0.002Y The supply function for processed pork in Canada​ is: Qs​ = ​+ p60 p is the price of pork is the price of beef​ = $4 per kg Q is the quantity of pork demanded is the price of chicken ​ = $3 per kg ​(measured in millions of kg per year​) Y is the income of consumers ​ = $12,500 is the price of a hog​ = $1.50 per kg Solve for the equilibrium price and quantity for pork. The equilibrium price of pork is ​$ nothing and the equilibrium quantity of pork is nothing million kg per year. ​(Enter numeric responses using real numbers rounded up to two decimal​ places.)

Your aunt is thinking about opening a hardware store. she estimates that it would cost $300,000 per year to rent the location and buy the stock. in addition, she would have to quit her $45,000 per year job as an accountant. a. define opportunity cost. b. what is your aunt's opportunity cost of running a hardware store for a year? if your aunt thought she could sell $350,000 worth of merchandise in a year, should she open the store? explain.

Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

Social computing forces companies to deal with customers as opposed to