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Question: If the perfectly competitive firm produces the output at which its marginal cost equals market price, it receives no profit (or a very tiny one) on the last unit it produces. Doesn't it make sense to produce fewer units because the difference between price and marginal cost on the last unit it produces will then be bigger?
How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?
Describe both free and restricted trade. What do you feel are the benefits and the cost to having free trade? What are the benefits and cost to having restricted trade?
Advise the sons whether the company will be bound by the contract and also identify any possible consequences for Michael.
Does the content adequately do what the assignment specifies? Is there adequate coverage of themesin general, and for the specific country (is there something important about a particular country that is neglected,or especially well-handled)? Is t..
If current output is such that marginal cost exceeds marginal benefit, should more or less resources be allocated to this product?
Compare and contrast the conflicts faced by Orwell in "Shooting an Elephant" to those faced by Gideon in "No Witchcraft for Sale." To what unique revelation does Orwell's position as a police officer lead him? How can Gideon's ultimate decision not t..
Southcoast Oil's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of oil is $18 and variable costs per barrel are $10.
The utility function of a consumer is given by U = log(b) + log(c) where b and c are the consumption levels of barley and corn. Assume that the price for both goods is $1 and that the consumer has an income of $100. Assume that the government introdu..
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Prepare a 2-3 page paper in Microsoft Word to address - Describe the ultimate goal of the product campaign for the new shampoo.
explain why government regulation is or is not needed citing the major reasons for government involvement in a market
question on 4 different graphs illustrate what happens to equilibrium price and quantity in the market for orange juice
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