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If the production or consumption of a good such as education creates substantial external benefits, then too:
a. much of the good will be produced unless producers are subsidized.
b. much of the good will be produced unless producers are taxed.
c. little of the good will be produced unless producers are subsidized.
d. little of the good will be produced unless producers are taxed.
What would be the internal rate of return for the project
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a software producer has fixed costs of 20000 per month and her total variable costs tvc as a function of output q are
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Professional sports players are generally paid much more than farmers, factory workers, engineers, and teachers. The markets for the professional sports players, farmers, factory workers, engineers and teachers are generally competitive.
problem 1 in a study relating college grade point average to time spent in various activities students are asked how
Early Classical economists found the following "diamond/water" paradox perplexing
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
in a meeting about whether to store inventory in a company-owned warehouse or rent a warehouse a colleague says we
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A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum
Would the accumulation of historical prices and quantities exchanged in the market establish a long-run supply curve? How would the historical relationship differ from how firms (and economists) envision today's long-run supply in the industry?
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