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Answer in true or False:
1) In the circular flow model, firms sell the services of factors of production to households
2) If GDP included the value of leisure time, the value of US GDP would most likely increase.
3) GDP measures underestimates the value of output produced by an economy because they include services not transferred through markets.
A price-taking firm in the X industry has the following (pre-tax) total short-run cost function: TC = 50 +30Q + Q^2. Price equals $130. The government is considering the following taxation policies: (a) A per-unit tax of $20/unit, (b) A tax of profit..
Why do price gouging laws often fail to work?
Consider the costs for the following lobster productin firm in a perfectly competitive market: TC = 80 +10q+q2 & MC= 10 + 2q. What is the supply function for the firm? Write the supply function as a function of P (i.e. solve for Qs) Currently there a..
Consider a perfectly competitive firm with the short-run cost function, C(q) = 500 + 40q + 10q2. At the market equilibrium price P* = 80, what is the profit at its optimal quantity supplied?
Identify two examples of a paradox in health care and pair each with an imperative for change from the Summary of the IOM Report, Best Care at Lower Cost: The Path to Continuously Learning Health Care in America. Discuss a possible policy solution to..
Suppose you manage a wine cellar with fixed storage space and you have to choose when to sell each bottle of wine. The value of each bottle V(t) is increasing over time at a decreasing rate: V' (t) > 0 and V'' (t)
q.i would like to figure out the relevant cost in some cost flight operation salaries of flight crew fuel maintenance
How do the working people or other groups in society "react" or respond to the growth of big business, laissez-faire capitalism, and industrialization? Are they effective?
Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. Do you agree or disagree with this assessment? Why?
Why are fixed and variable cost useful for estimating costs in a factory production line? How do u find fixed and variable cost? (the difference between the two)
Is sustainable growth possible with no ceiling on population growth? Do we have examples in nature where uncontrolled growth is sustainable?
In order for price discrimination to exist
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