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Short and Long Run Let's assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run? Fixed and Variable Costs After reading Chapter 8 in the text and viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post: First, describe several different fixed costs and variable costs associated with operating an automobile. Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
Calculate the effect of the wage subsidy of consumer surplus and producer surplus and What are the equations for the (long-run) expansion paths
In reference to the 2008 Global Economic Crisis.
If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then how he would maximize his profits.
consider the market for shiraz wine. the market demand and supply are given byqd 10 - pd and qs 4 2 psa. find the
Which input bundle represents efficient production of 100 units of output if the rental paid to capital is $25 and the wage paid to labor is $50? Round any decimals to the nearest hundredth. Derive the firm's cost function using the rental and wa..
Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. • What are the required reserves of People's National Bank Does the bank have any excess reserves
write a 4-6 page 12-point font double-spaced essay evaluating the role of governments in assuring that developing
medical schools and hospitals are heavily involved in the training of new physicians. after prospective new physicians
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
what is meant by the demand for money? which way does the demand curve for money slope? why? explain why the fed can
If prices rise, people's income from selling goods increases. However, the growth of real GDP ignores this gain. Given this information, why do economists prefer real GDP as a measure of economic well-being
Separate the bond market into municipal bonds and corporate bonds, if the President lowers the federal income tax rate by 5% and holding everything else constant.
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