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Using an illustration explain how a perfectly competitive firm might be:
a. Earning an accounting profit and zero economic profit
b. Earning an accounting profit and an economic profit
c. Earning an accounting profit and an economic loss.
d. Be sure to explain in each case what will happen to the number of firms in the market place and why it will happen.
Explain how competition in markets can often provide incentives for the invention of new technology. Using the ideas of social benefit and privaate benefit, explain the concept of a positive externality. Why does new technology have positive external..
What assumption along with diminishing marginal product implies diminishing marginal rate of technical substitution?
Give an example of a policy that would likely increase the HDI but decrease GDP. Explain in short.
The price demand function for 100 packs of whiteboard erasers is x = (360-4p)1/2. p is the price of one 100 pack of erasers. What is the elasticity of p = $18? Is the demand elastic, inelastic, or unit elasticity at this price? What price should the ..
question 1.1. demand for a company product is q400-0.5p and tc2000050q3qsquare total profit is maximized at output
The distributional consequences of the delineation of property rights are eliminated when preferences are quasi-linear (or in the absence of income effects).
With regard to global warming policy, describe, in a short paragraph, the importance of: Discounted costs and benefits. b) Public goods.
Elucidate how many units does each industry produce, elucidate how many industries will exist in this marketplace.
If the bond's current market price is $913, what is the fair market price of the bond?
Why would an ounce of gold be priced higher than an ounce of coffee beans though coffee is generally considered more essential than gold
What are other symbols of Guernica? What mood is evoked? How did Picasso organize the composition? What effect does that have in the composition?
If Jane gets one year of college she will earn $20 per hour. If Jane gets two years of college she will earn $22 per hour. If Jane gets three years of college, she will earn $24 per hour. If Jane finishes college, she will earn $25 per hour. Jane’s d..
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