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Discussion 1:
Let's assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Discussion 2:
After viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post:
Fixed, variable, and marginal cost
First, describe several different fixed costs and variable costs associated with operating an automobile.
Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
What is a decision rule? Why do we need it and how is it developed?Define and describe Type 1 and Type 2 errors - which, in your opinion is more egregious?
a. state and explain the law of diminishing marginal utility and do the same for the law of diminishing returns.b.
Describe three ways in which the Federal Reserve can change the money supply.
For an interest rate of 12% and a lifetime of 10 years, which proposal should be selected and calculate your answer in three ways
a monopolist sells in two geographically divided markets the east and the west. marginal cost is constant at 50 in
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
John lives for three periods. He is currently considering two alternative education-work options. Alternative 1: he can start working immediately, earning $100,000 in period 1, $110,000 in period 2, and $120,000 in period 3.
Low income housing or subsidized housing in urban economics and the paper must be atleastten pages long
Explain methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
Describe: 1) the process a firm should use in determining whether a particular production method should/should not be used AND 2) a factor or circumstance that could change the choice of production methods.
Identify and discuss three externalities, which can either be positive or negative - Conclude why an externality might exist in the situation that you described, and determine the solutions to mitigate these particular externalities.
all energy sources have drawbacks. even the clean hydropower option has negative ramifications. weigh those against the
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