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"Production Economics" Please respond to the following: * From the scenario for Katrina's Candies, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs. Recommend the key decision-making criteria that Katrina's Candies should use for expansion decisions in the short run and in the long run. Provide rationale for your response.
Provide one quote and its context for both a positive and normative statement. Explain your choices. Estimate the statement choices of your fellow students.
Illustrate what is each firm's equilibrium output and profit if they behave noncooperatively. Use the Cournot model. Draw the firms' reaction curves and show the equilibrium.
Using the utility maximization rule as your point of reference elucidate the income also substitution effects of an increase in the price of a product with no change in the other product.
How does subsidy affect consumer surplus, producer surplus, tax revenue and total surplus. Does a subsidy lead to a deadweight loss.
When consumer is provided a $50 gift certificate that is good only at store X, she moves to a new equilibrium at point D. Prices of goods X and Y. Explain how many units of product Y could be purchased at point A.
Distinguish between resource market and product market in circular flow model. In what way are businesses and households both sellers and buyers in this model. What are flows in circular flow model.
Assume that HP is evaluating idea of placing a DC (Distribution Centre) in Europe. What are advantages and disadvantages to this model.
What does it mean when asked; what are some considerations to remember given the different roles and people in the audience.
A county is considering using a piece of park land for one of two alternative recreation projects.
its marginal costs are below total average costs. If it creates an additional watch where its average total costs rise -fall or stay the same.
Suppose the two newspapers merge. Illustrate what is the likely post- merger bargaining outcome.
How many people should the owner hire if he pays each worker $6/hour? c. Suppose he considers hiring students on a part-time basis for $4/hour.
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