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Much of the empirical evidence on the behavior of costs for real-world firms suggests that
A. average costs functions are V-shaped as suggested by economic theory.
B. for most firms, marginal costs are declining in the range in which the firms operate.
C. for many firms, marginal and average variable costs are constant over wide ranges of output.
D. there is no relationship between the marginal and average variable costs of production.
Elucidate how did it manifest itself. If the person received counter conditioning to correct the condition, Illustrate what were the results
Describe the impact of a payroll tax on wages and employment in a competitive industry. Why is part of the tax shifted to workers? What is the deadweight loss of the payroll tax?
Create a chart to classify and identify a cost driver for each of the costs provided in the text. The chart should be included as an appendix to the written report
The _________________is an artificial unit by which utility is measured. The change in total utility due to a one-unit change in quantity consumed is called _____________________.What is the utility maximizing or optimization condition?
If you deposit $2000 in a bank and if the annual interest rate is 2% in year 1 and 5% in year 2 and 8% in year 3, how much money will you have in your account at the end of year 3 if you don’t withdraw any money from this account? Explain your answer..
You are making $1,000 quarterly deposits into a fund that pays 8% interest compounded quarterly. What would the balance be at the end of 10 years?
Dennis is only interested in two things, eating food and playing the online multiplayer game Globe of Gratuitous Violence (GoGV) – a close competitor to world of war craft. Dennis’s utility is given by the function € U(q f , qg ) = 0.25ln(qf ) + 0.75..
q1. in a competitive market the market-determined price is 60. for a typical firm producing 100 units of output
Assume that you have two ways to get the money, one way is to have it at present, so PV=10,000, another way is to get it in the future, so FV=11,000. Which one would you like to choose ? Why?
Assume, no calls are currently on hold. If agent takes 5 minutes to complete current call, how many callers do you expect to be waiting by that time. Illustrate what is probability that none will be waiting.
One supply side measure introduced by the Reagan administration was a cut in income tax rates. Use an aggregate demand/aggregate supply diagram to show what effect was intended. What might happen if such a tax cut also shifted the aggregate demand cu..
Grapes must be harvested by hand. This production function is characterized by fixed proportions - each worker must have one pair of stem clippers to produce any output. Suppose a vinyard owner currently has 20 clippers. If the owner wishes to utiliz..
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