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There are different definitions of capacity. What definition better describes a situation when a business is operating at a capacity level for a short time and is better than increasing resources permanently?
Assume that being sustitutes for one another, corn and soybean require the same raw material such as land, will farmers use their soybean farms to produce more or less corn and in econmic.
William is the owner of a small pizza shop and is thinking of increasing products and lowering costs. William’s pizza shop owns four ovens and the cost of the four ovens is $1,000. Each worker is paid $500 per week. What number of workers appears to ..
Can you relate the Classical and/or Keynesian macroeconomic models to assumptions about economic behaviors and to economics policies being implemented in the U.S. economy today?
For the sake of simplicity, suppose 89 octane is the only grade of gasoline and it currently sells for $2.89/gallon. Suppose the federal government imposes an excise tax on gasoline of $10/gallon. How should this affect the supply and demand curves f..
The market demand for a good is Q=20-P. The monopoly supplier of the good has a cost function C=Q2. If the monopolist were to charge the same price for all goods, how much would it charge? How much would it supply? How much profit would it earn? How ..
How is DNA testing different from other types of evidence like eye witness accounts or hair analysis?
A professor owned a home next door to a very dilapidated, neglected home. John Cataldo purchased the home next door and made a contract with Wizard Home Improvements for a complete renovation of the property. Do you think the professor will be succes..
What resources are combined by firms to produce goods and resources?
What were the advantages and dissadvantages of cotton and how is it different from back then to now?
Consider a typical graphical model of market supply and demand as applied to the market for two endangered species products: rhino horn and elephant tusk (two separate markets). A global ban on the trade of endangered species products has been impose..
An automobile manufacturer is converting an assembly line from standard vehicles to hybrid vehicle production. Conversion will cost $100 million. Production capacity will be 4000 vehicles in the first year and will increase by 1000 vehicles per year ..
Consider the market for two goods that are complements, ink and printer. If a technological breakthrough reduced the cost of producing printer: Show all work! Graphs, in your addition to your explanation is useful
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