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Numerical fill in the blank question: Suppose that at this same firm's profit-maximizing level of output, average costs are ATC = $39. What are the firm's total profits earned? (Just enter your numerical answer - no symbols, dollar signs, units, or text).
Muddy Fields Earthmoving can buy a bulldozer for $30,000. If lease payments are $1000 per month for 36 months, what is the IRR for the lease?
Given equipment price, E , what is the price of service in terms of E? Competition in the equipment market, however, drives the equipment manufacturer's long-run profit to zero. What is the price of equipment?
Consider economic theory: a. Briefly explain how a map is a model. b. Given an example of how a particular model can be appropriate in one context and inappropriate in another.
Graph the US and European Union supply and demand curves for corn (what are the intercepts?).
If the prices of toffee bars and bags of cashews are both ?$2 and this consumer has ?$22 per week to spend on these two? snacks.
Explain this function. Identify two rationing tools other than market forces.
What programs are dealing effectively with this population? Why do oligopolistic markets tend to exhibit price stability, and if this is the case, how do firms in these markets compete (illustrating with a couple of real-life examples)?
What is the difference between shifts in supply vs. changes in quantities supplied?
An increase in the rate of a proportional tax will affect the IS schedule (relative to the current position) in the following way:
(a) Assign probabilities to the seven outcomes. (b) Find the probability a weekday will be selected.
Assume that you live in a simple economy in which only three goods are produced and traded.
Explain how import quotas combined with allowing foreign direct investment are likely to be easier to justify as a politician than fully free markets.
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