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In perfectly competitive market a firm typically has short run average total cost curve and marginal cost curve of:ATC-100+Q+(100/Q)MC=100+2Q
1. Assume the firm faces an output price of $110. How many units of output does firm produce2. Consider that average total cost is minimized at 10 units of output, what would we expect to occur to industry in long run. What will be output of firm in long run and why
Illustrate what is the present rate of unemployment and the current rate of inflation
Illustrate what role does economics play in your personal and organizations decisions. Give an example of the role of economics in decision making.
Relationship among consumption expenditures and inventories as well as their interdependence, and think in terms of the Multiplier.
Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.
Profit by having physicians available in case we need them. Therefore, the government should subsidize medical education.
Make an example of a comparative advantage model by 'choosing two countries and two products.
the comparison of the percentage of change in the one variable divided by the percentage change in the other variable. An analytical technique utilized to show best case scenarios of demand and supply curves.
Two executives were arrested by authorities for embezzling money for their firm. Short of confusion the only had enough evidence to put them away for 10 Years.
Is the demand for electricity much price elastic when measured over a short period of time or a long period time. Explain.
Discuss the evolution and responsibilities of the Federal Reserve System. What circumstances promulgated both the development and composition of the system?
Illustrate what is the own price elasticity for ATM fees charged to non-customers.
The equivalent uniform yearly cost per machine (years 1-5) at an interest rate of 8% per year is.
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