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In order to show that perfectly competitive markets are efficient, economists assume that such markets are characterized by “perfect information.” How can imperfect information create inefficiency in what would otherwise be a competitive market?
q1. the wage rate is pound5 and the rental rate cost of capital is pound2. calculate the lowest cost method of making 4
q.assume you are a painter as well as the cost of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. your
Saddam Toaster Co. is contemplating a modernization of its antiquated plant. It now sells its toasters for $20 each; the variable cost per unit is $8, and fixed costs are $840,000 per year. Calculate the break-even quantity. What will be the break-ev..
In theory with flexible exchange rates should allow countries to conduct ________ monetary and fiscal policies, exchange rates, but paradoxically the experience of the relatively flexible exchange rates of the 1970's suggests that such policies cause..
Whenever the amount of output produced is not as great as the amount that the economy is capable of producing, there is a positive GDP ___________ and cyclical unemployment will be the result.
The state of NJ recently passed an increase in the minimum wage, how will this impact wages and the quantity of labor? Make sure to include the appropriate graph (starting with the initial equilibrium price and quantity) as well as who the potential ..
According to microeconomics, individuals tend to act in their own self interest. However, Mankiw offers no recommendations in the opening chapters of his text for how humans can re-sculpt their brains so that their expression of self interest is more..
The process of specialization and exchange allows a producer to become a. proficient in one or a few areas of production b. proficient in all areas of production c. self-sufficient d. independent
Using benefit-cost ratio analysis, determine which one of the three mutually exclusive alternatives should be selected. Each alternative has a 6-year useful life. Assume a 15% MARR first cost a $560 b $340 c $120 uniform annual benefit 140 100 40 sal..
Red Valve Co. of Carnegie, Pennsylvania, makes a control pinch valve that provides accurate, repeatable control of abrasive and corrosive slurries, outlasting gate, plug, ball, and even satellite coated valves. How much can the company afford to spen..
Which of the following is generally part of a formal report?
Are innovative product and service offerings ethically neutral? Consider Napster and the intellectual property issues associated with swapping music over the Internet as an example to begin the discussion.
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