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Constant returns to scale are associated with a:
1-downward-sloping long-run average cost curve.
2-horizontal short-run average cost curve.
3-downward-sloping short-run average cost curve.
4-horizontal long-run average cost curve.
Compare the change in the quantity of raw steel exchanged at the market level with the change in raw steel produced by a representative firm. How do you explain this difference?
The main reason why there is no support amongst economists to balance the budget every year (Balance budget amendment to the constitution) is that doing so will----
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. Illustrate what price should it charge. How many DVDs should it order from which supplier.
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 190 of your text. What is the Break-Even level of Income? What i..
which cumulative expenditures are increased. Raising taxes also government expenditure by the same amount such which cumulative provide is decreased also cumulative demand is increased.
topic insurancesteve has taken an insurance policy to cover his 1940 house. at the time of application the insurer
q1. if michael has 48 to spend on cola and pretzels what combination should he purchase in order to maximize his
What type of UAE companies would like to see higher tariffs and what type would like to seelower or no tariffs? And why is this the case?
Elucidate the effects of an increase in business investment on the short-run macroeconomic equilibrium.
A state government is considering construction of a flood control dike having a life span of 12 years. History indicates that a flood occurs every 4 years, on average, and causes $500,000 in damages on each occasion. If the state uses a MARR of 12% p..
Many professional sports athletes have incentive clauses in their contracts. These indicate tha: a) the team owner has asymmetric information b) the athlete might engage in moral hazard, which the team owner wishes to avoid. c)the athlete might engag..
What factors can contribute to unemployment? How can technology lead to greater unemployment, or is it a benefit to the economy? Can inflation cause or effect unemployment? How?
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