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Assume the technology for producing personal computers improves, and, at the same time, individuals discover new uses for personal computers so that there is a greater utilization of personal computers. Which if the following will happen to the equilibrium price and equilibrium quantity? 1. price will increase; quantity cannot be detmined. 2. quantity will increase; price cannot be determined 3. price will decrease; quantity cannot be determined. 4. quantity will decrease; price cannot be determined.
Illustrate what output would be produced, Illustrate what would total profits be also Illustrate what rate of return would the firm earn in its asset base.
Calculate Pete's marginal and average cost schedules. What are Pete's profit-maximizing output and price? What is Pete's economic profit? Explain your answer.
Give an example of an organization or business in your area that performs the "place" function, and explain why you picked this organization/business.
Illustrate what would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production.
If the marginal revenue from a product is $15 and the price elasticity of demand is ? what is the price of the product?
The Millvale Private Insurance Company estimates that that there are 1000 businesses in Millvale that are facing the possibility of $200,000 in flood damage. Half of the businesses are located along the Allegheny River, like the Millvale Boat House, ..
A used car dealer purchased my 1992 Ford Tempo for $1,000. He paid a worker $200 to wash it. He purchased four tires for a total of $400 to replace the existing tires on the car. He sold the car for $4,000. All these economic activities took place in..
What effect wills an increase in interest rates have on supply and/or demand of unskilled labour. Would wage rates increase or decrease.
What will happen to the marketplace for debit-card transactions and Visa's profits in the long-run. Use graphs to support your analysis and briefly explain your graphs.
The average adult produces $75,000 of output per year, Explain how much output is lost as a result of deaths from secondhand smoke, according to the News given below.
suppose a worker is offered a wage of 5 per hour plus a fixed payment of 40. what is the equation for the worker
Identify the area that represents producer surplus. (b) Describe briefly in words how a price floor can cause a “deadweight loss”.
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