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If the? long-run average cost curve continuously slopes upward as output? rises, minimum efficient scale would be
a) at the midpoint of the? long-run average cost curve.
b) nonexistent.
c) zero.
d) at the rate of output associated with the smallest sized plant the firm can build.
first-time homebuyers creditin 2009 as well as 2010 the us government instituted a program where all first-time
The goods are consumed by the buyers who value them most highly. The goods are produced by the producers with the lowest costs. Use a supply/demand diagram of market with binding price ceiling and a supply/demand diagram of market with binding price..
Explain how will the increase in unemployment benefits affect output and the price level in the short run and in the medium run.
Using the diagram, suppose that producers need to have licenses to sell apples, and that only 90 units of apples are licensed (i.e. Q is limited to 90). Calculate: the reduction in the consumers’ surplus. the reduction in the producers’ surplus
You are the manager of a firm that sells a “commodity” in a market that resembles perfect competition, and your cost function is C(Q) = 2Q + 3Q2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain t..
You borrow $25,000 from your local credit union at 12 percent compounded monthly. You repay the loan by making equal monthly payments over the next four years. How much interest is in the 23rd payment?
An accident occurred and an individual lose a leg. Show diagrammatically the utility functions before and after the accident. Show that if you were the Utilitarian, you would give more income to the individual after the accident, but that even after ..
Suppose that most Baltimore Orioles fans prefer Sunday afternoon baseball games (regardless of opponent) to all other games. Describe two pricing strategies that the Orioles could use to increase profits based on this difference in demand.
Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. Elucidate what might cause these fluctuations in supply.
Show and compute the following (don’t use Key Ratios precomputed from the site). Compute the ratios using the methods described in this class (which may not always give you the same number as shown in Key Ratios). Note that sales = Total Revenue, and..
Leslie works 35 hours a week at a wage of $20. Thus, her total weekly income is $700. On this income, she pays total taxes of $49. However, she calculates that on the last hour that she works, she pays $5. Leslie's average tax rate is what?
Suppose the price of pork, an input in the production of hot dogs, increases. Which of the following accurately describes how the hotdog market is affected?
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