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Auction Information
Austin's Auctions conducts online auctions on behalf of clients trying to dispose of liquidated dental laboratory equipment. Some clients want to keep product information about each of the items as guarded as possible so as to negotiate from a stronger position. Others provide photos, detailed assessments as well as complete maintenance records. Which group of clients receive higher prices and why?
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 80-Q, where Q = Q1 + Q2. The marginal cost associated with producing in the two plants are MC1 = Q1 and MC2 = 8. How much output should be pro..
What is its short run total variable cost function SVC? Short run average variable cost function AVC? Could you conclude that average variable cost is always less than marginal cost? What is the minimum price that the firm is short run profitable (fi..
Suppose Jane has chosen a combination of two goods, A and B, such that MU/P of good A is 10 (MUA/PA = 10), and the MU/P of good B is 10 (MUB/PB = 10). To increase utility with the same amount of money, Jane should:
Centralized federal regulation has the advantage of?
If the firm is perfectly competitive and if the price of its product is $24, what is its optimal output rate? At this output rate, what are its profits? Derive the firm's Short-run supply curve.
Compute by how much monetary policymakers must change the nominal money supply for the expectations of firms and workers to be realized.
Consider the aggregate demand and aggregate supply model with three ranges. In which range will an increase in aggregate demand cause an output and employment increase without causing inflation?
Describe what effect this change will have on Janes' ability to make purchases in Italy and explain why.
In 2015 the nominal interest rate is 6% and the general price level is $100. People expect the price level in 2016 to be $104 but it turns out to be $108. The ex-ante real interest rate equals:
In article of about the financial problems of USA Today, Newsweek reported that the paper was losing about $20 million a year. A Wall Street analyst said that the paper should rise its price from 50 cents to 75 cents, which he estimates would bring i..
Examine the level of business activities in the U.S. economy over the past few months. Which trends do you find of interest? What stage of the Business Cycle is the U.S. economy, given the current levels of business activity?
1. What is minimax algorithm and how does it work? In compared to previous uninformed search and heuristics search 2. What are new features of the minimax search?
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