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1-If marginal cost is below average total cost, average total cost will
-be maximized.
-decrease.
-increase.
-remain constant.
2-A firm's marginal cost curve above its AVC is also its short-run supply curve.
- True
- False
3- A firm ________ if it earns zero economic profit.
-earns a negative rate of return.
-will leave the industry.
-earns a positive but below normal rate of return.
What are the short- and long-term economic benefits and costs associated with our current high federal government budget deficits Do you think the economic benefits outweigh the economic costs, or not Why If we wished to reduce the budget deficit t..
Determining the buying power of an economy can be accomplished through the use of the ___________.
A television station is planning the sale of promotional DVDs. It can have DVDs manufactured by one of two suppliers. Supplier A will charge the station a set-up fees of $1,200 plus $2 for each DVD.
a purely competitive firm finds that the market price for its product is 20. it has a fixed cost of 100 and a variable
assume that in short-run equilibrium a particular monopolistically competitive firm charges 12 for each unit of its
This is a challenging question and involves algebraically solving system of two equations given by AD abd AS curves. The equations for the curves are given through the following:
equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand.
green engineering has proven to be an obstacle to many industries. the reason is their misunderstanding of the
Presume that the economy has the following production function: Y/L = 8*(K/L) 0.5. Further presume that s = 0.2, gL = 0.3, and δ = 0.1. What is the value of the steady state capital-to-labor ratio?
Find the equilibrium price and quantity after the shift of the demand curve.If, instead, two new stores that sell T-shirts open up in town, which of the following might be the new supply curve?
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Discuss the law of demand. Graph the following demand- supply equations: Qd= 100- 0.5P Qs = P Compute the equilibrium price and quantity. Discover the excess demand, if the price is set at $50. Presume the government imposes a tax ($2/unit) on the se..
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