If a representative firm with long-run total cost given by TC = 50 + 2 q + 2 q 2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,410 – 40 P and QS = –390 + 20 P, its long-run profit-maximizing level of output is:

The text states that the committee “expects inflation to rise gradually toward 2% over the medium term as the labor market improves further….” why would the fomc expect inflation to rise because of improvements in the labor market?

wilson's has 10,000 shares of common stock outstanding at a market price of $35 a share. the firm also has a bond issue outstanding with a total face value of $250,000 which is selling for 102 percent of face value. the cost of equity is 11 percent while the preminustax cost of debt is 8 percent. the firm has a beta of 1.1 and a tax rate of 34 percent. what is wilson's weighted average cost of capital?

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