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Topic: Law of marginal returns or the law of increasing costs
Discuss in terms of your study in this course, how might you know that you are at a point of diminishing returns, or where more study will not benefit you like it did before? Can you identify any of the costs discussed in this lesson in your decision about how much study is enough?
If both the agency and the board are right about demand and supply, what is the free-market price? What is the change in city population if the agency sets a maximum average monthly rent of $300 and all those who cannot find an apartment leave the..
The Piney Copper Company purchased an ore bearing tract of land for $7,500,000. The geologist for Piney estimated the recoverable copper reserves to be 450,000.
An economy's production possibilities frontier is also its consumption possibilities frontier. under all circumstances,under no circumstances or else.
Determine the rate of can rent capital and marginal productivity of labor at its new targeed level of output. To minimize the cost, the car company should hire capital and labor until the marginal rate of subsitution reaches what portion?
Using the equation in (c) show that if the capital/labor ratio K/L is a constant k, the elasticity of output with respect to labor is b + c. (e) Why are relationships expressed like those in (c) important for doing econometrics? (f) Show that the ..
A consumer faces the following decision: She can buy a computer for $1000 and $10 per month for Internet access for three years, or she can receive a $400 rebate on the computer (so that its cost is $600) but agree to pay $25 per month for three y..
What are the consequences for farm output as a result of this guaranteed price and what does the term "equilibrium" mean in the context of a market economy?
Write a 2000 word essay analysing the conditions under which the manager of a profit-maximising firm must decide to shut down its operation. Consider oligopolies, monopolies and perfectly competitive firms.
Discuss the context of legislation - name the expected demanders and suppliers as outlined in our textbook and describe the expected interest groups and there specific arguments.
You have been asked to assist your organizations marketing department to better understand how consumers make economic decisions
In addition, assume that the variable cost per unit of labor is the same regardless of the number of units of labor that are hired. What is firm's fixed cost
Which of the following is the primary disadvantage of producing inputs within a firm?
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