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Suppose you are to specify a short-run total variable cost function for a nursing home.
Explain the variables you would include in the function.
What is the expected relation between a change in each of these variables and short-run total variable costs?
Find Total Revenue or profit
Does microeconomics apply to every nation in the world. Explain your reasoning. and explain the specifics of any cases or examples you use and the implications of similar on local citizens of that country.
Cubby Company entered into a lease contract for ten photocopy machines for its corporate headquarters. The lease contract qualifies as an operating lease in all terms except there is a bargain buy option.
What is the total fixed cost for the El Dorado Star? If the total fixed cost increases to $5,000, how many papers should be sold daily for profit maximization?
Explain why Monopolistically Competitive firms charge different prices for their products and Oligopolies tend to all charge the same price. Explain why all businesses do not Price Discriminate.
Briefly explain whether you agree with the following statement: "If at the current quantity marginal benefit is greater than marginal cost, there will be a deadweight loss in the market.
Why does an initial $400 billion annual decrease in consumption spending make income fall by more than $400 billion per year. Explain why an initial change in planned aggregate expenditure results in a much larger change in equlibrium income.
Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are inte..
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
A monopolist has demand and cost curves given by: Find out the quantity that maximizes profit? What is the revenue and profit at that point?
The market for corn is currently in market equilibrium. Graph this situation. On your graph show what happens to the quantity of corn and the price in the market as the use of ethanol fuels becomes more widespread at the same time that a drought d..
Discuss the background of Federal Reserve's Chairman Ben Bernanke in detail including his educational background to his accomplishments to his role in running the Fed. What is his legacy regarding the Federal Reserve?
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