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The market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses.
a. How does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertilizer?I would think that average total cost and the average variable cost would be greater than the price of fertilizer. The marginal cost would be equal to the price of fertilizer. Is this correct?
b. Assuming there is no change in demand or the firms' cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, the quantity supplied by each firm, and the total quantity supplied to the market.
Over Illustrate range will changes in marginal cost have no effect on CDW's profit-maximizing level of output.
David black, representing the management of the automobile manufacturers disagreed with McDonald's assessment. Black cited studies that indicated price elasticity's ranging from 0.5 to 1.5.
If the bank compounds interest yearly, explain how much will you have in your account on January 1, 2015
Borrow from the nation with the lower nominal interest rate, invest in the nation with the higher nominal interest rate and profit from the interest-rate differential.
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Assume the cost of a can was $5.10. In this case, to maximize its profit the firm illustrated in the figure above would
It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time.
What plant size will the firm choose in producing. Draw the firm's long-run average-cost curve on the diagram and define this curve.
Explain which it would not be optimal for Firm 1 to make the investment if there were no threat of entry.
To raise the incomes of the worlds severely poor population to the official threshold of US poverty.
A Monetary History of the United States, 1867-1960 uncovered the empirical reality that money is pro-cyclical and leading, the classical economists went to the drawing board.
So if trade barrier is reduced the Chinese economy will go down also affects the economy of the whole world. Do you agree or disagree with this argument.
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