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Assume a perfectly competitive firm is currently producing 5,000 units of output and is earning $15,000 in total revenue. The marginal cost of the 5,000th unit of output is $3. The corresponding average total cost is $3.50 and total fixed costs equal $1250. Based on this information, should this firm continue to operate in the short run? Why or why not?
Illustrate what do you conclude about the ability of these indexes to measure changes in real income.
1). List three businesses that can exist today, because of the World Wide Web that could not have existed before the advent of this technological communication system. 2). How has the World Wide Web supported the establishment and functioning of th..
There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, while the other player's payoff is 0.
The interest rate is 25% (0.25), and there is no inflation. Illustrate what is Mandy's optimal consumption in period 1.
GDP per capital (nominal) would be the actual cash of the average person in the given country has per year. It equals GDP divide by the population. What is the alternative to using PPPs for making international comparisons? This answer will likely ex..
In the Wall Street Journal article included in this week's lesson, what change in the small drugstore chain's product differentiation strategy has helped lift profitability? What has been responsible for the success of this strategy (who comprises th..
In a recent study it has been estimated that the own price elasticity of demand for a special type of U.S. manufactured automobile tires is - .75, while the income elasticity of demand is 1.1 and the cross price elasticity of demand with respect to f..
Is it necessary to register a trademark? What are the benefits to registering a trademark? What distinguishes a trademark from another symbol or group of words?
Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7 ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Average products of..
Do you think in legal matters and health matters and so forth people should be economically valued differently? or should there be one standard amount each person is worth/
The annual income from an apartment complex is $20,836. The annual expense is estimated to be $2,463. The apartment complex could be sold for $144,351 at the end of 10 years. If your MARR is 10%, how much should you pay for the apartment complex if y..
Suppose the French suddenly develop a strong taste for California wines. What happens to the demand for dollars in the market for foreign-currency exchange What happens to the value of dollars in the market for foreign-currency exchange
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