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A taxi company currently has 9 cabs in its fleet, and its total daily cost is $4,750. If a taxi company adds a tenth cab, the company's total daily cost will increase to $4,800 and its total revenue will increase by $100 per day. Should the company add the tenth cab?
Why do firms demand resources? In what way is a firm’s demand for a resource a derived demand? How does this differ from consumers’ demand for final commodities?
New Horizons Airlines wants to forecast the mean number of unoccupied seats per flight to Germany next year.To develop this forecast, the records of 49 flights are randomly selected from the files for the past year, and the number of unoccupied sea..
If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then how he would maximize his profits.
Determine GDP,NDP,GNP,NNP,NI,PI,DI,S. Comment on savings magnitude that you have determined.
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Explain how a +0.5% adjustment in domestic interest rates would affect international investment flows. Determine if such a change would have a bigger impact on larger or smaller countries.
The list price of an orange dial Luminox watch is $650. Katz Jewelers receives a trade discount of 30%. Find the trade discount amount and the net price.
Consider two ways to protect your car from theft. The Club(a steering wheel lock) makes it difficult for a car theif to take your car. Lojack(a tracking system) makes it easier for the police to catch the car thief who has stolen it.
Markets are a very good way to organize economic activity in our economy. Why do we classify price floors and ceilings as a type of market failure and why does the government need to get involved in these types of markets
Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?
Explain the three types of goods: search goods, experience goods and credence goods. What type of advertising would firms likely use for each type of good and why?
Describe the concept of the law of "diminishing returns" and why does it take place only in short run? Differentiate between "the long run return to scale" and "economies of scale."
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