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1. Define and explain ‘Law of Diminishing Returns with the help of diagram. What are the different stages of production in the short run?
2. Define and explain ‘Price Discrimination (PD)’ with the help of diagram. Also give examples of Price Discrimination from the real world?
Consider the market for minivans is at equilibrium. Determine, using the supply and demand model, how the following events might affect the equilibrium price and quantity for minivans. Explain why fully. Consider each separately.
You have been hired to manage a small manufacturing facility whose cost and production data.
Explain how can be expected to happen to quantity of labour hired if minimum wage is increased next year. Be sure to explain in words illustrate what is happening on your graphs.
Illustrate what would happen to the profit maximizing level of output if the market price suddenly rose to $54 per case. Explain why the output level changes.
q.the us government could not pass its annual budget. as a result the us government has partially shut-down roughly
what is the opportunity cost of producing a unit of wheat in the united kingsom? In the united states?
q.suppose a computer virus disables the nations automatic teller machines atm manufacture departure s from bank
a researcher reported that he had found the demand curve for kerosene to be upward sloping.-as the price of kerosene rose the quantity demanded of kerosene increased. Illustrate what questions might you have for this researcher.
Monopoly is often heralded as the ultimate goal of a firm, to be the only seller in a market. however the picture might not be as rosy as it appears if you actually reach monoply status. Why is that. How monopolies in real world earn huge rates of..
The Mortensen-Pissarides (MP) framework of search labor is the thing in analyzing (equilibrium) unemployment over the business cycle. Shimer showed that the lack of hires is the big margin that affects the volatility of labor. Since then people tried..
Explain why does price equal marginal revenue for the purely competitive firm. what is the relationship to the demand curve for the firm.
According to the principle of monetary neutrality: If the Fed increased the supply of money, and velocity remains unchanged, according to the quantity equation: The quantity theory of money states that: Suppose the value of goods and services produce..
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