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Explain a situation in which the outcomes of classroom experiments deviated from standard economics theory. What insights were learned from these outcomes and how are they incorporated into the standard theory they attempt to model?
Given the experience of the last several years, Elucidate how has the valuation of dot.com changed.
What is the marginal product of the second employee. What is the marginal revenue product of the fourth worker.
If the market price of the product is 270, how much output should the firm produce in order to maximize profit. How much profit will this firm make.
Mike’s Mechanical Men produces radio controlled robots. If its average costs of production are $25, its fixed costs equal $2,500, and it charges $75 per robot, how much revenue must be generated to earn a profit of $5,000?
Sketch a graph which shows the lost gains from trade that result from having a monopoly.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
An economist has predicted that for the next 5 years the U.S. will have an 8% annual inflation rate, followed by 5 year at a 6% inflation rate. this is equivalent to what average price change per year for the entire 10-year period?
If a company gets rid of a coupon does this shift the demand curve or just move a point on the demand curve.
determines the net weight of each, and computes the mean of these 16 weights with the sample standard deviation, s= 0.25.
Derive the long-run average cost and marginal cost equations, and plot them on a graph. At what level of output does average cost reach its low point?
If the federal government chooses to increase government expenditures explain the three methods of financing the expenditures in terms of: which is the most expansionary, what are the negative effects of each, and which is the most inflationary.
What can you say about the price elasticity of demand for DVD players. What will this price reduction necessarily lead to an increase in profits for DVD player manufacturers.
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