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Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
Explain what is meant by diminishing returns. From these costs curves explain when diminishing return sets in? Why and explain the relationship between ATC, AVC and AFC.
the table below shows the hypothetical baskets of consumption goods for a typical penn state college student for 2012
• Identify an industry that the Internet has transformed or destroyed. • Then think of a new industry that the Internet has created. • What are the reasons behind the changes
problem cost functions.consider a firm with average cost function acy 1y1y.a. what is the firms total cost
The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?
What are some of the tricks and pitfalls an investor should avoid as discussed in the book " A Random Walk Down on Wall Street"? Explain.
Suppose the price of labor increases to $2 per unit. What effect will this have on output per unit of labor and is this plant subject to decreasing returns to scale? Why or why not?
In the absence of a quota, what is the equation for the total supply of wine? Show your work - what are the equilibrium price and quantity of wine? Show your work.
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
illustrate the market for oranges with a supply and demand diagram. what would happen to equilibrium price and quantity
consider a monocentric city. export firms have two options for transporting output to city centre a truck or a
Price outcomes of the five oligopoly models differ substantially. Which models produces the lowest and highest total profits (all firms combined)? What are the predicted prices? Provide aviation industry examples of routes or markets that may approxi..
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