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As a business/economic consultant to the dominant firm in a particular market, you have discovered that, at the current price and output, demand for your clients' product is price inelastic. What advices would you give to the manager regarding the price setting and profit maximizing?
If the margin is greater than the average, what can we say about average and margin? Diminishing marginal returns to labor. What is the general relationship between AVC, ATC, and MC?
Describe how diversity amongst team members contributes to a team becoming and remaining innovative. (100 125 word)?
According to Haskel and Sadun(2009), the United Kingdom started regulating the size of grocery stores in the early 1990s, and today the average size of a typical U.K. grocery store is roughly half the size of a typical U.S. store and two-thirds the s..
You are an efficiency expert hired by a firm in the clothing industry that uses machines (K) and workers (L) as inputs. The firm has estimated that the marginal product of labor is MPL = 120 - 4 L, while the marginal product of capital is MPK = 50 - ..
Discuss which model that best describes the historical economic development in The Bahamas. Which approach would you recommend to best ensure sustainable development in The Bahamas?
Write a paragraph should contemplate and discuss how you believe consumer equilibrium (& utility) may be related to the concept of elasticity. In other words, do you think that the elasticity of demand impacts the utility we get from consuming an ite..
Defend or critique the primary alternative sources of healthcare funding in the United States - Analyze the key types of policies required for the delivery of a public health insurance program, and hypothesize their main effects on the achievement ..
Calculate the equilibrium national income for this economy. Calculate the multiplier for the economy.
You are considering buying a new house, and have found that a $200,000, 30-year fixed-rate mortgage is available with an interest rate of 6 percent. This mortgage requires 360 monthly payments of approximately $1,179 each. If the interest rate rises ..
Suppose that all of the firms in the coal mining industry were willing and able to produce and sell 5 million tons per week at a price of $3/ton last week. This week the firms are not willing and able to produce and sell that amount at a price below ..
According to the concept of limited liability, the liability of shareholders of a company is restricted to the face value of shares. They have no personal obligation for the liabilities of the company. How does the concept of limited liability impact..
Using the concepts of absolute and comparative advantage answer the questions: 1) Why does the U.S. trade goods with other countries that they can produce themselves?
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