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A firm increases the quantity of all resources it employs by 5 percent. As a result, output increases by 7 percent. This is an example of: A. Minimum efficient scale B. Diminishing marginal returns C. Decreasing long-run average costs D. Economies of scale
Which of the following is an example of Stackelberg competition? GlaxoSmithKline and Pfizer compete in the HIV drug market by annually announcing their production quotas during the second week of January. Natura Pet Products introduced the first grai..
Which of the following changes would not shift the demand curve for a good or service?
If it is illegal to sell food stamps, what does your analysis indicate about the potential existence of a black market in food stamps? Indicate graphically an acceptable price that your consumer would accept for his food stamps, and that someone w..
Calculate the prot-maximizing monopoly price and quantity. Calculate the price and quantity that arise under perfect competition with a market supply curve P = Q=2.
Illustrate what is the Business Cycle. Be able to describe all of its parts such as peak, trough, long-term trend, etc.
Five of ten people earn $0, four earn $100, and one loses $100. What is the expected pay off and variance of the pay off? There is a 50 percent chance of making $0, a 40 percent chance of making $100, and a 10 percent chance of losing $100. Calculate..
When a recession generates unemployment, it is considered: At the national economy level, technological development can generate:
Suppose you have estimated the consumption function as C=250=0.90Yd where Yd is disposable income. what is the corrosponding saving function?
q1. the law in ruba says no worker shall be paid less than nine slugs per hour. estimate the quantity of labor supplied
Your income is $10 and you buy sodas for $1 apiece. One day a local bully starts demanding that you buy him a soda for every soda you buy yourself. Therefore, it now costs you $2 to get a soda. In these circumstances, you choose to buy 3 sodas a day...
Using the calculations from part a, and the methods described in class, calculate a 99% confidence interval for the population mean forecast, where the population 3 would consist of all economists.
Federal Express (a package company) lobbying the U.S. Department of Transportation to increase annual terminal fees at airports. Sailboat manufactures lobbying to increase the tolls on New York City’s George Washington Bridge.
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