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Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so Why?
the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the average total cost.
Show the Income Consumption Curve for this consumer for income values M = 12, M = 24, and M = 36.
Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
Illustrate what is the difference among the short-run also the long-run for a perfectly competitive firm in terms of costs also profits.
Explicate which among the policies is most effective and least effective for this nation.
If interest rates could be deducted from income, would an investor change his/her decision based on question 1.
Use your own example in order to illustrate these concepts. Can the marginal utility from a product be negative? If yes, give an example.
A bank manager advises all of his loan officers that the average cost of funds for the bank over the past year
Illustrate what would be the opportunity cost of x had the economy efficiently produced 10 units of y? Can the economy efficiently produce these quantities.
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Illustrate what is each firm's equilibrium output and profit if they behave noncooperatively. Use the Cournot model. Draw the firms' reaction curves and show the equilibrium.
Constrained Optimization in Economics 2. Minimize costs for a firm with a cost function Subject to the production quota
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