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A competitive firm uses two variable factors to produce its output, with the production function y = min{x1/2, x2}. The price of factor 1 is $4 and the price of factor 2 is $5. Due to a lack of warehouse space, the company cannot use more than 20 units of x1. The firm must pay a fixed cost of $80 if it produces any positive amount but doesn’t have to pay this cost if it produces no output. What is the lowest price that would make a firm willing to produce a positive amount?
Some retailers must contend with excessive customer returns of purchased items. For example, a person may purchase an expensive item at a clothing store; wear it to a fancy event, then return the item. To what extent is the problem of excessive custo..
You make monthly deposits of $1,000 in a bank starting at the end of month 1 and lasting 5 years (the last deposit is at the end of month 60). What is the future value of these deposits right after your last deposit? Assume the nominal annual interes..
What are some of the top reasons of consumers reporting lower life satisfaction, even though their purchasing power has recently increased?
q.exercise 1graphically represent on the islmfx diagram the effects of the following cases use a new diagram for each
Changes in tax laws and deliberate government purchases that are made to help the economy recover from a recession are known as ____________.
Which of the following is the result of the "Great Compromise" between the small and large population states?
q.mr. h. simpson is an individual who earns 5 per hour working at the springfield nuclear power plant. assuming he
When the price level rises, the long-run aggregate supply curve ________.
Explicate why the government expenditure multiplier is different from the tax multiplier.
The change in equilibrium quantity will be:
q. you have been hired to manage a small manufacturing facility whose cost and production data are given in the table
how can two countries both be better off as a result of trade? how can tariffs protect u.s. jobs? do tariffs lead to a
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