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Total cost and total variable cost are parallel, yet average total cost and average variable cost are not parallel. a. Demonstrate mathematically that ATC and AVC are not parallel. b. Show mathematically that when both ATC and AVC are falling, ATC falls faster than AVC, and when both are rising, AVC rises faster than ATC.
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Information Technology (IT) has been around for a long time but most health care organizations have not embraced information technology as much as most other industries. Discuss this issue as it relates to your organization. Given the material in..
Discuss the difference between the CPI measure of inflation as collected by the Bureau of Labor Statistics and the Billion Price Project (BPP), which is developed by researchers at MIT.
Consider the advantages and disadvantages of the European Union adopting a common currency and determine if this move was a good idea or not
The steady increase in demand for home computers has resulted in the massive increase in demand for web access, yet, the price of access has been steadily declining.
Based upon your own internet research, identify and comment on two supply-side initiatives included in the current U.S. stimulus package. Ensure your response includes one strength and one weakness in each of these initiatives.
The physical relationship between a firms input use and output production is called the 5. A firms total revenue (input costs + the opportunity costs of the owners capital + any other inputs supplied by the firms owner) equals that firms 6. At the..
Write a one-page policy brief that addresses the questions above and write in paragraph form and do not number the paragraphs.
Due to the lack of profits, many growers have stopped production and the output of coffee beans has fallen from 400 tons per year to 250 tons per year.
Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolist's production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 - 3Q. a) What is the Monopol..
Two major areas of health care reform involve universal access and containing costs. List the specific options discussed in your text that work toward these reforms.
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
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