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For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither.
A. sells a product differentiated from that of its competitors
B. has marginal revenue less than price
C. earns economic profit in the long run
D. produces at the minimum of average total cost in the long run
E. equates marginal revenue and marginal cost
F. charges a price above marginal cost
Explain the two approaches that can be used to compute GDP. Why do these two approaches lead to the same value for GDP? Explain why real GDP is a more reliable estimate of economic growth than nominal GDP.
What is the impact on the market for abdominal surgery usin this new technology?
Gordon also works 5 hours a week for the economics department to maintain that departments web page. Illustrate the economics department pays gordon $20 per hour.
Using the World Bank classification of countries, select countries from the different categories and examine the data on output growth and education level. Is there a systematic relationship?
Explain how does global economic competition impact price elasticity in domestic market and decisions related to strategy a firm uses to compete. Why do most economists oppose trade restrictions.
when the colts won the super bowl the demand for peyton mannings jersey was p 210 - 0.002q with a corresponding
Alexander Company is a used car dealership serving Los Angeles Metropolitan area. The corporation has experienced a rather sharp decline in used car prices in recent years.
Elucidate his production potential. In one person economy could this also be his budget line.
An Onyx Corporation design also manufactures a broad range of fluid handling also industrial products.
In the first half of the report you introduce ideas, then in the second half of the report you will discuss and evaluate these ideas to identify what is most important.
Using this information, draw a Lorenz curve for each country. Remember to convert the above table into a cumulative %. Illustrate which country has the most equal distribution of income.
Illustrate what is the euro-denominated return on Dutch deposits for this investor. What is the (riskless) euro-denominated return on British deposits for this investor using forward cover.
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