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Assume for a perfectly competitive firm that MC = AVC at $12, MC = ATC at $20, and MC = MR at $16. On the basis of this information, the firm should not be in production. Do you agree?
Explain the law of diminishing marginal utility.
1. Why do so many economists project increasing budget deficits and government debt over the next several decades 2. According to the Ricardian view of government debt,
What would it not be better to nationalize public utilities as some European countries have done. Explain.
When watching at our economy, you will determine that government expanding is very important to our overall output of our economy.
Write a minimum of a five-page essay, using proper APA format, on the topic of unemployment in the U.S. Use a minimum of three scholarly sources. You have the freedom to take any aspect of unemployment that you desire to research.
Consider two firms competing in prices and selling a homogeneous product. The market demand curve is p = 100 - q and the constant marginal costs of the two firms are 10 and 20 respectively. Also, suppose all prices should be integer numbers.
Without budgets, how does a company know what target they are trying to achieve relative to revenue or costs? Should a budget be for one year or several Do we budget only for current expenses or budget for capital improvements also
What condition holds when the firm is maximizing profits? Explain in words what the math of the answer means. (b) What conditions do the functions R(Q) and C(Q) have to satisfy for you to know that the quantity Q* that satisfies the condition in (..
If the price elasticity of demand for gasoline is 0.3 and the current price is $3.20 per gallon, what rise in the price of gasoline will reduce its consumption by 10 percent.
ABC Corporation is a small Canadian company that sells staples in Canada, which is a very competitive market. The staples can be classified as a standard commodity, with stores viewing staples as identical to those supplied through other companies.
At the management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns". Is this statement correct? If so, why? If not, explain why no..
What is meant by monopolistic competition? Explain and critically analyse Chamberlin's theory of monopolistic competition.
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