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How do education and heathcare impact the economy externally? Make sure that you show the relationships between education, healthcare, and the economy.
If Apple reduced its price for the shuffle, what do you think would happen to their profit? What impact would the price decrease have on their competitors? Explain by considering the elasticity of shuffles).
The perfectly competitive company takes the equilibrium value set through the market and maximizes profit through manufacturing where price, which also equals marginal revenue, is equal to marginal cost.
Keeping in mind that one must take off work to complete the task who has the lowest oppurtunity cost of completing the task.' Sam, Both have the same identical cost, Teresa.
Defenders of Communist economic systems may point out that customers pay lower values for certain goods because government imposes a limit on what manufacturer may charge.
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
Consider the marginal cost for a product like Microsoft Window 7. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?
What are the advantages and disadvantages of the oligopolistic structure? How would an increase in a monopolist's fixed costs affect its profit-maximizing choice of price and quantity?
find the equilibrium price and quantity of cigarette packs and what is the price received by producers? The price paid by the consumers? The new market quantity?
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days for each year. It has orders for about 12,000 flashing lights for each year and has the ability of prod..
Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
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