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1. Draw supply and demand for product showing the equilibrium price and quantity. illustrate what would happen if all the transactions costs of market were reduced. generally, what is the impact of transactions costs on the operation of the marketplace?
2. What happens to producer surplus and consumer surplus if transactions costs are reduced?
3. For any company operating in a marketplace, the firm attempt to maximize the value of company's worth by setting output where:
a. costs are lowest
b. P<AVC.
c. MR = MC
d. AR = MC
Which of the following best describes the relationship between China and Japan in the 1600s? From the mid-1500s to 1830, the largest group of immigrants to the Americas consisted of. What was the leading Russian export that traveled on the Inner Eura..
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What level of output should you produce in the short run?b. What price should you charge in the short run?
A specialty crane used in construction was purchased for $350,000 5 years ago. It is MACRS-GDS 7-year property. Its annual O&M costs are $45,000 increasing by 5%. The remaining useful life is 6-years and the end of the 6-year planning horizon, the mi..
What are the three questions that must be answered in order to determine the consumers' willingness to pay in a mixed market of cars with both Lemons and plums?
Illustrate what is the marginal cost of the first worker. Based on your knowledge of marginal analysis, how many workers should you hire.
Is the industry or industries in which the firm operates conducive to abnormally high rates of return.
Because of the close co-movement between the budget deficit and the current account deficit, the two are often referred to as “twin deficits”. Explain in detail how an increase in the budget deficit that is due to an increase in government spending (..
Explain what happens when a dispute is at an impasse or not and if any party is experiencing any settlement pressures.
If an autonomous decrease yields a new PAE expression, PAE = 195 + 0.6Y, find equilibrium and graph it on a Keynesian cross diagram and find the multipler. Please explain.
Suppose the demand for gasoline is QD = 75 – 25PD and supply is QS = 30 + 20PS, where prices are expressed in dollars per gallon. How does a $0.40 per gallon tax affect the equilibrium price and quantity of gasoline (show both the pre-tax and post- t..
In early 1998, S3 was a small microchip-design firm with a big problem. The company knew that Intel’s patent wall would eventually stall its high-performance graphic-microchip business. S3 hatched a plan to fix the problem. What is the implication fo..
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