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Which of the following is likely to occur when copyright laws are enforced?
A. Price equals marginal cost.
B. There is no output of the copyrighted product.
C.There is no consumer surplus.
D.The copyright holder earns an economic profit.
using IS-MP and PC graphs analyze the following scenario on the economy specifically, how and why will real output (GDP) be affected in the short run.
Elucidate what type of returns to scale does this technology represent.
From 1982 to 1986 retail sales of furs in the U.S rose from $0.4 billion to 1.0 billion. After this time, there was no additional growth until 1989 when sales increased slightly to $2 billion. Subsequently there was a plunge in fur sales which droppe..
How would the value of output produced at an American-owned factory in the United States and a foreign-owned factory in the United States be treated in GDP accounting?
Which of the following practices would indicate that an employer is trying to overcome a principal-agent problem with his employees?
Describe at least one government policy that you believe would be effective in increasing our nations' production possibilities (creating economic growth) and therefore increasing our nation's average absolute standard of living. What explains why mi..
One of basic economic laws is ‘law of one price.' It says that provided certain assumptions one would expect that if free trade is allowed, illustrate what three of those assumptions likely are.
The marginal cost of the In Focus division for making the lenses is given by the equation MCl = 0.30 + 0.0004Ql. Each camera requires one lens. How many cameras will Camco produce and what price will be charged for each?
Set up a table or a spreadsheet for XYZ's output (Q) price(P), total revenue (TR), marginal revenue (MR), total cost (MC), average cost (AC) total profit (TP) and Marginal profit (MP). Establish a range for Q from 0 to 1,000 in increments of 100 (i.e..
The long-run average-total-cost curve shows. Total fixed costs generally decline as output is increased. Average total costs tend to be U-shaped. As output increases, average variable costs converge to average total costs.
First National Bank receives a deposit of $5,400. If there is no slippage, explain how much could the money supply expand.
Who is the winners and losers from using corn to produce ethanol (gasoline)? Identify some of the unintended consequences of using corn to produce ethanol (gasoline).
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