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Write paragraphs on needs and wants of ancient communities and how they exchanged their goods:Your answer must include the ff aspects :
Introduction
Info on needs and wants of ancient communities
.Info on system practiced in exchanging their goods
Logical arrangement of facts
Conclusion
Using the following demand schedule, compute marginal and average revenue: Quantity 1 2 3 4 5 6 7 8 Price 100 95 88 80 70 55 40 22 Suppose the marginal cost of producing the good above is constant $10 per unit.
1) What total output (Q1 + Q2) will you produce to maximize profits 2) Of the total output in part (1), how many units are produced at teh first facility (what is Q1) 3) Of the total out put in part (1), how many units are produced at the second faci..
Today's mainstream economists speak of "rational economic man" as the fundamental character of people, immutable across time and space, and the foundation of economic activity. Key characteristics of "rational economic man" are atomism, egoism, a..
without a market for pollution rights, dumping pollutants into the air or water is cost less; in the presence of the right to buy and sell pollution rights, dumping pollutants creates an opportunity cost for the polluter." What is the significance..
The government spends 80, financed by borrowing, to provide public services. If autonomous consumption plus investment is 210 and the marginal propensity to consume MPC = 0.8, what are the equilibrium real GDP values before and after the governmen..
save the down payment required to purchase a vacation home at the end of five years.if the required down payment is $25,000 and you can earn 5% year on your saving account how much do you need to set aside at the end of each of the next five years
Find the natural rate of uemployment b. Graph the short run Phillips curve if the expected rate of inflation is 3 percent or 0.03 c. What is the sacrifice ratio in this economy d. If the central bank has a loss function of L(pi) = (pi)..
julie has preferences for food, f, and clothing, c described by a utility function u(f,c)+f*c. her marginal utilities are Muf=c and Muc=f. suppose that food cost $1 a unit and that clothing costs $2 a unit. julie has $12 to spend on food and cloth..
(Y) Dollars per unit 3.00, 4.50, 5.00, 6.00, 8.00 (X) Units per Period 5,000 - 8,000, - WHAT IS THE MONOPOLIST'S PROFIT-MAXIMIZING OUTPUT - At the profit-maximizing output rate, what are the monopolist's average total cost and axerage revenue
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
The staff economist at the utilities commission estimates the demand and supply curves for pay telephone service as follows: D: Q = 1600 - 2400P S: Q = 200 + 3200P where P is the price of a pay telephone call, and Q is the number of pay telephone ..
Dr. Leona Williams, a well-known plastic surgeon, has a reputation for being one of the best surgeons for reconstructive nose surgery. Dr. Williams enjoys a rather substantial degree of market power in this market.
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