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What is (if any) the relationship between Marginal cost and Average cost? What happens in the "long-run" regarding production and cost? In your analysis, describe such concepts as: Economies of scale; Minimum efficient scale and Diseconomies of scale. How do indivisible inputs affect production costs?
Dan Demaar and Rob Runten are working on a class assignment on economic growth. Dan collects the GDP growth data for the country Fanez, which is located in the Middle East. The growth rate of the population in Fanez has consistently exceeded the real..
I think the blaming China is just another move by the administration to take the country in the wrong direction, possibly with tariffs or restrictions on imports for countries such as China.
Situation analysis of Nigeria before and after colonialism. Factors to be taken into consideration would be geographical, economical, HDI, GDP, GNI, Education level, Growth and National assets.
6000 bottles of water are sold when the price is $3 per bottle. when the prices is $4 per bottle, 5500 are sold. find the linear price equation where the price is p(x) and x represents bottles of water. set up table of (x,y) values showing your work...
Canada is the largest trading partner for the united states. in 2009 , united state exports to Canada were more than $171 billion and imports from Canada totaled more than $224 billiom. On January 1, 2009, the exchange rate between the Canadian dolla..
Price elasticity of demand is an important concept. With appropriate examples, explain how this concept is related to total revenue.
What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.
Florida, like several other states, has passed a law prohibits" Price gouging " immediately before, during, or after the declaration of state of emergency. Price gouging is defined as"''.... selling necessary commodities such as food, gas, ice, oil a..
Project B will return a profit of $2.00 of conditions are poor, a profit of $3.00 if conditions are good and a profit of $4.00 if conditions are excellent. The probability distribution of conditions is as followed.
Consider a competitive market that all the firms in this market vent an ozone reducing chemical into the atmosphere as a consequence of their production activities. Is tis outcome efficient? Explain with the help of a diagram. Do these firms have an ..
Find the demand for L and R. Now assume that the price of right shoes increases. What will be the substitution e ect from this price change? Explain.
Suppose that crude oil extraction imposes an external cost of $84 per million barrels/day (constant marginal external cost). Plot a new graph that includes these external costs. Identify the optimal quantity and market price in the presence of the ex..
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