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Question: The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. The total variable costs are $20 for one aquarium, $25 for two units, $35 for the three units, $50 for four units, and $80 for five units. In the form of a table, calculate total revenue, marginal revenue, total cost, and marginal cost for each output level (one to five units). What is the profit-maximizing quantity of output? On one diagram, sketch the total revenue and total cost curves. On another diagram, sketch the marginal revenue and marginal cost curves.
What are intermediate goods? Why do economists exclude the value of intermediate goods while calculating national income - What is aggregate demand? What are its major components - Explain some of the steps that a government would wish to adopt in an..
2. Jim is a janitor working for a cleaning company which receives $500 from each company that hires them for keeping the company's employee restrooms clean for a period of one month. Jim is paid $2 for each bathroom he cleans and pays for his own sup..
Joseph Stiglitz's book details his various "discontents" with the way the globalization process has been aided and abetted by international organizations dedicated to the economic transformation of the world economy, such as the World Bank and ..
Course outcome(s) practiced and assessed in this Assignment: GB540-5: Assess how economic theory and concepts are utilized to maximize the quality of economic decision-making.
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What are the economic benefits of the flu shot and in what ways has the government become involved in the distribution of flu shots?
1. Consider the given probabilities: P(A) = 0.25, P(B|A) = 0.34, P(C|A∩B) = 0.62. Fill in the blanks. P(A∩B) = (Give your answer to three decimal places.) P(B'|A) = (Give your answer to two decimal places.)
Advising a developing country: Suppose you are appointed the international economic adviser to a small developing country.
In accordance with the dual-control approach, sup- pose New Mexico's NOX abatement standard for existing sources is 5 units (AE) and the EPA's stan- dard for new sources is 12 units (AN).
a consumers utility function is ux y 2xy2 . the price of x is px the price of y is py and the consumers income is i. x
What does this imply about the inflation rate in the US and Columbia during this time according to our long term exchange rate theory in the course?
What are the economic returns - you must talk in terms of both social and economic.
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