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1. The payment to resource owners has to be equal to ____ in order to keep the resources in their current use.
a. what other firms are paying
b. the amount of taxes
c. the amount of debt
d. the opportunity cost of the resource
e. the minimum wage
2. The term price maker
a. suggests that a firm faces a perfectly elastic demand curve.
b. is reserved for firms that face perfectly inelastic demand curves.
c. implies that a firm faces a downward-sloping demand curve.
d. appropriately describes the perfect competitor as well as the monopolist.
e. implies that a firm can sell almost any level of output at almost any price it chooses to charge.
Explain what action should be taken in terms of adjusting output if it is determined that marginal cost is greater than marginal revenue.
Explain how to structure her essay properly and illustrate what sorts of mistakes she should avoid making. Drawing on your prior writing experience, as well as knowledge you have gained from this phase, illustrate what advice do you offer.
Illustrate what is the average inflation rate. Elucidate how would that affect the inflation rate.
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class. Be sure to explain the key concepts and terminology of both microeconomics and macroeconomics.
A nation whose interest rate is rising more rapidly than interest rates in other nations can expect the international value of its currency to appreciate.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
Analyze the consequences of such a bill and whether or not you would personally favor it. Consider all the costs involved in your analysis.
what actions would you take to test the hypothesis. Following your test illustrate what actions would you take if the hypothesis must be rejected given the outcome of the test.
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launching services to commercial firms.
A major bakery-cafe chain is evaluating whether they should consolidate its two offices into one location when the two leases expire. In addition, the company also needs to decide
Elucidate how much should Joseph's income increase to compensate for the rise in the prices of roses.
Explain how does the U.S. Government correct for this apparent market failure.
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