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Does it make sense for a restaurant to offer early-bird specials and senior citizen discounts? Explain your answers in terms of the economic concepts of marginal revenue and marginal cost, as applicable.
consider the following data which applies to avataria and twilightia in the years 1990 and 2010. in both countries the
Justify that the objective of a benevolent government should be to maximize TPB(Q)-TSC(Q), by choosing the right level of Q. Then, write, interpret, and solve the resulting first order necessary condition for an optimum (remember the first order c..
Suppose that Melanie had 200000 of disposable income and spent 180,000 on consumption in 2006 & had 300,000 of disposable income & spent 240,000 on consumption in 2007
Do you think the United States should attempt to enforce labor standards and environmental standards on its international trading partners? Why or why not?
Engineering estimates suggest that at those levels, the marginal product of capital will be 100 and the marginal product of labor will be 75. If the wage rate is $5 and the rental rate on capital is $10, is the firm making the right decision?
Mr. All-the-Time-Lonely has been using an internet dating service from eharmoeny.com to meet a woman. According to his past observation over a long period of time, he has been successful in dating a woman at one of ten trials on average.
If trade barriers are "second-best" policies with costs to consumers that are significantly greater than their benefits to producers, why are trade barriers enacted? Explain.
At which point do you reach equilibrium. Also explain why is that considered equilibrium.
BAA is a private company that operates some of the largest airports in the United Kingdom, including Heathrow and Gatwick. Suppose that BAA recently commissioned your consulting team to prepare a report on traffic congestion at Heathrow. Your repo..
Find the optimality conditions characterizing an equilibrium. Suppose there is no government spending, that the real value of bonds Bt/Pt is constant, and that the nominal money supply grows at a constant rate. Solve for a steady state of the economy
pollys pet store on the island of atlantis has a local monopoly on the grooming of dogs. there are 1000000 citizens of
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day
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