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As the price of a resource used in the production of good "X" increases, a firm's per-unit costs of production will (decrease/increase), the market price of good "X" will (decrease/increase), and the firm's demand for most of the resources used in the production of good "X" will (decrease/increase). A. Increase; decrease; decrease. B. Decrease; increase; decrease. C. Increase; increase; increase. D. Increase; increase; decrease. E. Decrease; decrease; decrease.
Suppose that the supply curve for the labour to a firm is given by L = 100w and the marginal expense of labour curve is given by MEL =L/50. If the firm acts as a monopsonist, how many workers will it hire in order to maximise profits? What wage will ..
An old wooden bridge over a bay is in danger of collapse. The highway department is considering two alternatives to alleviate the situation and provide for expected increases in future traffic. One plan is a conventional steel bridge, and the other i..
Compare the price and output decisions of a profit-maximizing firm under conditions of pure competition, imperfect competition, and small oligopoly. Show that your answer does not depend upon the cost structure of the firm. What are the social implic..
Illustrate the supply and demand graph. Assume this graph is the market for soda. Illustrate what you anticipate would happen if consumers suddenly decided that they no longer wanted to drink soda
Southern Airways, a small regional airline, has a daily late evening flight into Atlanta. The plane must be in Atlanta at 8:00 am each morning for a flight into Richmond, Virgina. Unfortunately, the charge for a plane remaining overnight in Atlanta i..
Suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. What amount of government bonds will the U.S. Treasury issue to finance the deficit? Suppose the media report that the federal defic..
Draw a graph with “hours of typing” on the horizontal axis and “hours of filing” on the vertical. Do your indifference curves slope upward or downward? Why? Suppose you currently type for 3 hours a day and file for 5, but you’d be just as happy typin..
What are some of the different types of judicial philosophy in how to interpret the law? Outline the theories of judicial restraint and judicial activism. What are some of the advantages and disadvantages of each theory? Explain. Lastly, give at leas..
Describe the Cold War approach to reducing nuclear threats. How do ba;;istic missile defense (BMD) system offer an alternative approach? Who have been the strongest advocates for BMD systems? What is the main weakness of the Cold War approach in toda..
From the financial statements of Under Armour identify any sources of risk in there operations. Do the financial reports indicate any uncertain activities or changes to the economic environment that ultimately appear to have affected the company's fi..
Make sure to make available examples of real world to strengthen your position of wherever this might be case
Biophysical limits to economic activity might include:
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