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Briefly explain that
a) Considering the derivation of supply function, explain why the supply curve has positive slope.
b) Explain by using an appropriate diagram why the profit maximization condition for a firm is "marginal revenue equals marginal cost"
Define inflation.Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 2010, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per p..
Suppose that a company is considering building a new factory to increase their productive capacity. If they had planned to borrow the funding in the bond market, how would an increase in interest rates influence this decision
Consequently, an example of an Islamic-sound banking practice is a system in which depositors deposit money to participate in profit-sharing and the banks provide funds to borrowers on the same principle with a mark-up as payment for their financi..
Was there too much focus on the macro climate and not enough on the micro climate? Do you concur more with Krugman or Giraud?
general electric which produces light bulbs, jet engines, washing machines, and so on, kinko's which has a photocopy store near many colleges and univesities, usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foun..
choose a major capital piece of quipment to be used in the radiology department of a hospital e.g. cat scan mri nuclear
The market for qbits is initially competitive and the market demand is: P = 400 - 0.4Qd. The combined marginal costs of the firms in the qbit industry are: MC = 50 + 0.6Q. Draw the demand and marginal cost curves. Compute and show how much these firm..
If Q=K^1/3L^2 the MPl is what
In the Middle Ages, goldsmiths took in customers' deposits (gold coins) and issued receipts that functioned much like checks do today. People used the receipts as a medium of exchange. Goldsmiths also issued loans by writing additional receipts ag..
The price of Burger King's Whopper hamburger declines and mcDonald's distributes coupons for $1.00 off the purchase of a Big Mac.
Why would we expect that the price elasticity of demand for the product of an individual firm would typically be greater than the price elasticity of demand for the product overall?
If the dealers colluded to limit inventories, what would be the maximum monopoly profit they could earn collectively? Would individual dealers have an incentive to cheat on their inventories? Explain.
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