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Question: A competitive firm produces output y. Some of its output is defective and cannot be sold. That is, only a fraction 0 E (0, 1) can be sold in the market at unit price p. Let the cost function be c (y) , with c' (y) > 0 and c"(y) > 0. Suppose that with experience, the share of good output 0 increases. Does the firm compensate for the increased yield by reducing production, or will it instead increase production?
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
What is the optimal degree of air cleanliness? What is the optimal degree of air pollution? Suppose that a state provides subsidies for a company to build plants that contribute to air pollution. Cleaning up this pollution causes the marginal cost of..
Nine-year-old Wanda's teacher notices that for the past few weeks, Wanda has not been talking to her friends and is always sitting alone in a corner.
For each of the following you onlyneed to providea one or twoword response (choose one of the underlined phrases for each statement.
explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical
The AS curve does not describe the same kind of relationship between price and quantity as a microeconomic supply curve. Why?
France and Tunisia both have Mediterranean climates that are excellent for producing/harvesting green beans and tomatoes. In France it takes two hours.
Question: List and explain any 3 areas of Sustainability of Germany along with Birth rate and average life expectancy. Choose form Water, Environment, Infrastructure, Health care
Aside from humanitarian concerns,what is the one reason on nation is motivated to provivde foreign aid to a less developed country.
Using the information from the completed table and the graph to identify the three stages of production and explain why the firm's short run production has only one 'rational' stage of production
consider a popsicle stand that sells in a perfectly competitive market. the popsicle stand has variable costs related
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
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