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Q. Consider following example: following chart gives my marginal benefit (MB) and marginal cost (MC) of consuming burritos at Supertaco. All relevant costs and benefits are included and measured in dollars. MB and MC entries are made on lines between quantity rows to reflect that MB is change in total benefit when adding one more unit and MC is change in total cost when adding one more unit. How many burritos should I eat?
Explain why do the Average Variable Cost curve and the Average Total Cost curve become closer as the quantity increases.
Evan gets twice as much marginal utility from an additional bottle of water than from an additional bottle of soda.
a change in environmental regulation has dramatically raised the price of a substitute chemical that indirectly competes with T3MP. This change undermines the market for the substitute, which is about twice the size of the market for T3MP.
Illustrate what is the total opportunity cost of the day that Farmer Tony incurred for his spring day in the field planting wheat.
In the short run the typical company increases its output but its total cost also rises. Hence, the effect on the company 's profit cannot be determined without more information.
Then make an argument for why the government may still prefer using the other approach.
If she neither borrows nor lends, which project has the higher present value at the interest rate 50%. Which has the higher present value at an interest rate of 5%.
Which of the following would occur if the federal government decided to use a budget surplus to reduce the existing debt.
Explain how you think these trends have affected our overall economic well-being (think unemployment, wage rates, etc.) in recent years.
Assume bad wear in Florida ruins much of orange crop. Illustrate what happens to consumer surplus into market for oranges.
What was the accounting profit for the new business. What was the economic profit or loss. Explain your calculations for both questions.
Illustrate what Do You Think About The Idea That Technological And Medical Advances Would Bring An End To Hunger, Disease, Drudgery, And Unemployment In The United States
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