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The miracle Manufacturing company Short run Average cost Function In 1997 Is AV=3+4Q , Whwer AC is The firms Average cost ($/pound)And Q Is its output rate.A) Obtain an equation For the firms Short-run Total cost function.B) Does the firm have any fix cost ?
Describe how each of following will affect consumption and saving schedules as they relate to GDP or the investment schedule, other things equal,
Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.
Please refer to Citizen Gas Company PDF for case study and questions. The case study belongs to Economics. Citizen Gas Company is a medium sized company with customers from residential, commercial and industrial sectors.
Suppose there is a surge in demand for olive oil after researchers discover that olive oil consumption reduces heart disease. Analyze the short and long run effects of this increased demand on you firm.
Calculate the deadweight loss (i.e., the welfare loss) associated with this market being monopolistic and calculate the difference in consumer surplus under perfect competition compared to monopoly.
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
Suppose the inflation rate is 5%. Suppose the marginal product of capital in a firm is 8% but that in the course of production, 6% of capital is worn out by depreciation. What is the nominal return associated with an investment in capital, and why..
A special interest group cannot impose its will on the majority because the perceived costs and benefits from government programs are the same for both groups. Cost-benefit analysis can be applied to individual decision-making and public choice th..
How much excess reserves does the bank hold and how much more can this bank lend - What is the required reserve ratio?
Describe the legal environment of business, the sources of American law, and the basis of authority for government to regulate business.Explain basic court procedures, types of courts, and alternative dispute resolution methods.Use technology and in..
Explain why are prices usually higher for goods or services in London as opposed to Newcastle, or New York as opposed to San Fran?
Students fascinated with your explanation and eager to learn more, ask about the shape of the demand and supply curve in each industry. Provide a demand and supply graph for each industry to explain. Label equilibrium price and quantity.
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