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A company in a purely competitive industry is currently producing 1000 units a day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day,its total cost would be $275. What are the firms average total cost per unit a these levels of productions? If every firm in this industry has the same cost structure, it the industry in long-run competitive equilibrium?
If the MPC = 0.94, C 0 = 45, I = 150, G = 125, T = 75, X = 50 & IM = 60: Write out the consumption function. Compute the simple multiplier.
Elucidate why the $5.15 minimum wage in New Jersey likely has less of a detectable impact on employment.
Assume if you scale up every price and nominal income in the same positive proportion Elucidate why this is true.
Assume that the Fed unexpectedly raise the rate of money growth.
Illustrate what type of fiscal policy did the Congress enacted while the effects of Hurricane Katrina.
Illustrate what factors have contributed to increased income inequality an economy along with an equitable income distribution may be efficient as well.
Carmen opens a retail store. Her sales during 1st year are $600,000, of which $30,000 has not been collected at the year end. Her purchases are $400,000.
Elucidate why the U.S. would subsidize the short run cost of production for tobacco farmers in foreign countries.
Explain how useful is this demand equation for forecasting demand for the pill slicer in the next five years
Illustrate what is the major pros of the real GDP measure. Construct a price index giving all products equal weight.
Production Possibilities Tables for Germany and Canada (note that we are assuming that opportunity costs remain constant along the production possibilities frontier), and that each country produces only these two products).
Assume you are the manager of a California winery. How would you expect the following events to affect price you will receive for a bottle of wine?
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