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Q1) Please explain whether the following statements are true or false.
(a) Assume Adam runs a business that uses his own labor only. If Adam pays himself no salary, then the accounting cost is zero, but the economic cost is positive.
(b) Both the law of diminishing marginal returns and economies of scale concepts are basically the same because both show that production cost will eventually beyond some point of output level.
a knitting mill sells about 20000 units of its product per year at an average price of 10 each. fixed costs amount to
Is the firm operating in pure competitive market or monopoly market and why - Draw the TR, demand curve, marginal revenue curve in one figure.
complete the following tablenumber of workerstotal outputtotal productmarginal product of laboraverage product of
How does the government assure the public that (1) Banks are operating with "safety and soundness" (2) that their deposits are protected and (3) that banks are not taking excessive risk in lending and investing their funds? (Federal Reserve, FDIC and..
Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald’s, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale? How did the pro..
In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate? The response must be typed.
Banks act as financial intermediaries by doing which of the following?A) Converting household savings into business investments in which savings appear as a liability on the banks balance sheet.B) Converting household investments into household savin..
In many modern U.S. industries the following relationships seem to be predominant: What factors might explain these patterns? Small firms are more likely to outsource production of inputs than are large firms;
Consider your own "global-warming footprint," i.e., the range of activities you engage in that contribute to the amount of greenhouse gasses
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10.
What good and/or service does the company produce? How much does it produce? Why is the company a monopoly? How does the company determine the price and quantity of its outputs?
question 1 a partial income statement from sizzling foods inc. is shown belownbspnbspnbsp 2011revenuesrevenue from
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