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Suppose a firm's short run total cost curve can be expressed as STC (Q) = 50Q + 10. Calculate the firm's short run-average total cost curve and average variable cost.
profits associated with polluting for friedman inc. are pi 40q - 2q2 where q pollution emitted in tons and profits
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
How many different combinations of 3 winning tickets can there be? Suppose you hold 4 tickets. What is the probability that you will win exactly 2 out of the 3 prizes.
a multinational engineering consulting firm that wants to provide resort accommodations to certain clients is
Illustrate what will be the short run effect of government imposition of a lump sum tax per firm equal to 170? If this tax remains
We have discussed why market based policy instruments are often superior to conventional command–and control instruments to solve environmental problems. But command -and-control regulations, such as a uniform standard for all polluters, sometimes wo..
Suppose that a second worker became available. Elucidtae the resulting change in production possibilities. Now what would be the opportunity cost of sanding two floors.
If Amy spent her entire allowance, she could just afford 8 candy bars and 8 comic books a week. She could also just afford 10 candy bars and 4 comic books. The price of a candy bar is 50 cents. Illustrate her budget line with a diagram (be sure to la..
Other things equal, what effect will each of the following have on the equilibrium price level and the level of real output? Equal increases in aggregate demand and aggregate supply. An increase in aggregate demand in the steep portion of the aggrega..
In 2008, the Board of Directors and shareholders of Anheuser Busch agreed to be acquired by a Belgian Brewer (InBev). Prior to the merger, InBev made many pledges to AB regarding how the company would operate after the merger, how its employees would..
Using the concept of price elasticity explain why the price of basic commodities has to be regulated in price rise.
The utility function of a consumer is given by U = log(b) + log(c) where b and c are the consumption levels of barley and corn. Assume that the price for both goods is $1 and that the consumer has an income of $100. Assume that the government introdu..
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