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Greg's Hardware has determined the following demand and supply equations for nails
QD = 10,000-25P
QS = -5,000 + 50P
a. How many nails would be sold for $100?
b. At what price would nail sales be zero?
c. When P = $200, what is total revenue? What is marginal revenue?
d. What is the relationship between quantity supplied and quantity demanded at a price of $300?
Which of the following is a characteristic of a monopoly?
A firm has a production function, q=AL^a K^(1-a), where 0
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Graphically, the reservation wage is shown by:
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The unemployment rate might underestimate the underutilization of labor resources because it does not include? ______.
Given the technology and the amount of other resources available, the position of the demand for labor depends on the
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