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Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why?
Which of following is necessarily true regarding total utility (TU) and marginal utility (MU)?Newspaper vending machines are often built so that customers can pay to lift a door and take a paper off a pile of daily newspapers. Newspaper distributor..
Determine the profit-maximizing average monthly production capacity for DermaPlus for each of the possible reference-based prices identified by the consultant. Estimate the expected monthly profit in each case.
ach sales manager then decides how to divide the cars among the independently owned dealerships in the region. Because of high demand for these cars, dealerships all want to receive as many cars as they can from the regional manager.
2) Why is the shutdown point not a hard and fast rule of MR=MC=AVC 3) Why does the government's desire to not provide health care at certain points maybe economically rational and dangerous Explain.
What are the distinguishing characteristics of “public goods”? Give two examples of a public good. Why are public goods difficult for markets to allocate efficiently?
The daily load factor of a given entity is defined as the total daily energy served to that entity divided by theproduct (peak demand)*(duration of the time interval). For a daily load factor, the duration of the time interval is 24.
Name at least 10 goods and services for which the demand would be elastic or inelastic. What determines the price elasticity or inelasticity of demand of a good or a service Explain by referring to the list you have compiled. Submit your work in t..
Define and explain technological advance, and describe how does technological advance enter into the definition of the very long run?
Discuss the relationship existing between production and cost. What is the MC function of the above TC function?
problem 1assume that in period 0 we have y200 c180 g0 and mpc0.75. assume in period 1 only g increases by 30. how much
Evaluate the Clean Air Act and determine if it has been effective from an economic standpoint. Explain your reasoning. Based on your evaluation of the Clean Air Act and additional efforts to address pollution, make policy recommendations that woul..
Suppose this person is relatively happy with the initial amounts in his or her possession and will only consider trades that increase utility by at least amount k. How would you illustrate this on the indifference curve map?
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