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Discuss two situations in which you made a decision by weighing the marginal cost and marginal benefits. Explain your rationale in economic terms, such as the marginal principle and principle of diminishing returns.
If a recessionary gap were to appear, how might the economy adjust? Can/should we rely on it to adjust itself? Is it possible that the economy will never adjust to a gap, and things will just get worse and worse?
At a price of $24, should a perfectly competitive firm operate or shut down in a the short run if its TC is given as:
Two employees will be hired at $10.00/hour/employee (including overhead and benefits). Each employee will work an average of 170 hours per month. The average revenue per customer is estimated at $7.00. The variable cost of serving each customer is..
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
If Advanta believes raising fees is a profitable move, then why would it delay implementing the higher fees, which could reduce the amount of profit generated by higher fees?
What would each of the following events do to the terms of trade of the importing country and the exporting country, other things being equal?
In global trade, when the difference between money coming into a country from exports and money leaving a country due to imports or money flows from other factors is known as.
Explain how, with trade, Nebraska can end up with 40 million bushels of wheat and 120 million bushels of corn while Iowa can end up with 40 million bushels of corn and 120 million bushels of wheat.
A firm that sells e-books – books in digital form downloadable from the Internet – sells all e-books relating to do-it-yourself topics home plumbing, gardening, and so on at the same price.
During 1993 when the economy was growing very slowly, President Clinton recommended a series of spending cuts and tax increases designed to reduce the deficit. These were passed by Congress in the Omnibus Budget Reconciliation Act of 1993.
Which of the following is not a condition required for the practice of price discrimination?
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
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