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Q. A business employing 8 workers to produce commemorative t-shirts for campus events organizations. They are currently producing 2000 shirts per month with average total cost of $8.00, average fixed cost of $2.00, and marginal cost of $10.00. Calculate the following:
a) average variable cost
b) total fixed cost
Q2. Does Keynes use the term 'classical economists' in the normal sense? Explain.
Compute the numerical elasticity of long-run demand. Is it unitary, elastic, inelastic, etc. Explain why would consumers demand 0 minutes in the long run if the price was $.30 per minute.
When you purchase and eat a hamburger, no one else can eat the same hamburger. When you download a file on the Internet, the file is still available.
q.1. lee has the utility function ux1 x2 x11x24 the price of x2 is 1. lee spends all his income to buy 6 units of x2
Illustrate why does the GDP deflator give a different rate of inflation than does the CPI. Illustrate what is the difference between a medium of exchange and a store of value.
the european engine company eec is a multi-national manufacturer of small gasoline and diesel motors. eec has predicted
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explain why does not just one state produce all of the orange juice for the U.S. market? Can you answer this question without the simulation.
Union B faces a demand curve in which a wage of $6 per hour leads to demand for 30,000 person hours, whereas a wage of $5 per hour leads to demand for 33,000 person hours. Which union faces more elastic demand curve.
Give reasons to elucidate what the government would have to do to keep the unemployment rate at 3 percent.
Calculate GNP, GDP, and aggregate income. GDP = $ GNP = $ Aggregate income = $ b) What is depreciation in this year? Depreciation = $ c) What is NDP? NDP = $
suppose at the current level of labor used the mrp 100 and the mfc 50. to maximize profits the firm shouldadditional
Elucidate how Levitt devised a means of examining student test scores to uncover evidence of cheating teachers. Explain also why Levitt's analysis of the data constituted evidence, but not proof, of cheating.
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