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Explain the difference between implicit and explicit costs. Give two examples of when an explicit cost is different from an implicit cost.
Explain the difference between accounting and economic profit. Give two examples of when they differ.
Finally, explain the difference between economies and diseconomies of scale. Provide examples of when an actual firm might benefit from economies of scale or be harmed by diseconomies of scale.
What is the monthly average total revenue for year 107, and the monthly average total revenue for year 108? How do these numbers compare to each other?
Explain how the competitive labor market functioned before the buyout of the independent farms. How was the wage rate and quantity of workers employed in the market determined?
Draw the demand curve for your product (market share vs. price). If a segment is indifferent between buying and not buying, assume they will buy.
a job order cost accounting system is fully integrated into the general ledger of a company. identify the major general
You own and operate a fruit stand. Your demand curve is given by P = .5 - .002Q, where P is in dollars and Q is in pounds of fruit. Your marginal cost curve is MC = .006Q. Your fixed costs equal $10.
Discuss the influence of any federal government or state government programs, such as tax credits or tax deductions for energy-saving/efficiency purchases.
Suppose you are given the following information about an industry: QD = 8000 - 100p; What is the lowest price firms will sell their goods at in the long run? In other words, what is the long-run industry supply curve? Explain
What are the major functions of the government? Briefly discuss and what are the advantages and disadvantages of forming a corporation - what are the major sources of the federal government revenue?
What can be another set of prices that Diego would have same budget constraint? Why Diego's budget constraint doesn't change at this new set of prices?
The fee that is charged when a financial transaction occurs, such as selling a house or making an investment. For example, the transaction fee for purchasing or selling stock consists of the money that must be paid to the stockbroker who actually pur..
listed below are three projects with their revenues listed per year. for each project create a ms excel spreadsheet to
Replicate Table, using log of wage rate as the dependent variable and compare the results thus obtained with those given in Table.
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