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For many, the principle "marginal revenue equal marginal cost" condition for profit maximization is rather confusing.
Discuss the rationale behind the condition, highlighting how different it is from the break-even analysis.
Assume the world price of t-shirts is $10. If this country opens its market to free trade, what are the domestic consumption (demand), domestic production (supply), and the quantity of imports? ($500)
If the U.S. were to impose import quotas
If price is less than average variable cost, a firm cannot even cover its variable costs and therefore has no incentive to operate.
How do the incentives and feedback for government bureaus differ from those for profit making firms? (minimum 100 word answer)
Why is measuring a firm's costs is more complicated than measuring its revenues.
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers sold increased from 240,000 to 280,000.
Explain how the (r, w) probabilities determine the quality of information: for perfect, for worthless, and imperfect better than pure chance information.
Nominal GDP is the variable most commonly used to measure short-run economic fluctuations. These fluctuations can be predicted with some accuracy. Real GDP is the variable most commonly used to measure short-run economic fluctuations. It is almost im..
A manager has a $50 million portfolio that consists of 50% stock and 50% bonds (i.e., $25 million each)
Which is a tax on profits generated from mining of iron ore and coal.
Macy's dress shop LLC calls Rag Trade Manufacturing Company Inc. and orders 100 dresses in various sizes colors and styles.
Suppose that this year's money supply is $1/2 trillion, nominal GDP is $15 trillion, and real GDP is $10 trillion. a. What is the price level? b. What is the velocity of money? c. If the velocity of money is constant, but output of goods and services..
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