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Suppose the price of a firm's fixed input rises. If it decides to maintain its production level, its average costs are lower in the long-run than they are in the short-run.
What is the present worth of a series that gives you $56 in period 1 and then gives you $1 more each time period until period 100 when the interest rate is 5%?
Suppose that all of the numbered diamonds and spades from a deck of cards (excluding Ace, King, Queen, and Jack) are used to set up a market. The diamonds determine demands, e.g., a 10 represents a buyer with a redemption value of $10. Similarly, the..
Consider the market for vegetable fiber. World price is $9.00 per pound. Unlimited quantities are available for import in the US at that price. The US domestic supply is: If there are no tariffs, quotas or other trade restrictions in the US what will..
Elucidate how do you expect the demand and supply of the good or service to change in the next year. Support your answer.
The variables used to measure the economic growth is the labor and capital and the productivity. The amount of labor is measured
If agricultural price subsidies have the effect of lowering resource costs for farmers, use a supply and demand graph to show the effects on the market for food. Illustrate what are the implications for American public health.
What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Imagine you are running a firm with the characteristics of a perfectly competitive firm. Describe ..
What are the pros and cons of the Economic Stimulus Bill (The American Recovery and reinvestment act of 2009). Provide your arguments and defence for a method to jump start the U.S. economy in a time of recession.
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. What would total annual reven..
Are cyclical fluctuations necessary for economic growth?
For a menu that is being created you can place 15 options within it. There are 13 meat offerings and 8 non-meat offerings to choose from?
Calculate MPC, MPS and the Multiplier if consumption expenditure increases by $4,250 as a result of increase in income from $40,000 to $45,000.
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