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Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, total revenue will be
Explain how do you think that these individuals would rank the utility of these same expenses for themselves. What reasons may account for the similarities and differences in the ranking of such expenditures by your neighbor, your friend, and your..
What happens to consumer and producer surplus when the sale of good is taxed? How does the change in consumer and producer surplus comapare to the tax revenue? As a result of the above are taxes necessary to have? Explain.
First Printing has contracts with legal firms in San Francisco to copy their court documents. Daily demand is almost constant at 8,500 pages of documents. The lead time for paper delivery is normally distributed with a mean of 2 days and a standard d..
Read the article "Abenomics is doing better than you think" and answer the following questions. Define the term Abenomics. What are its main components? What were the main problems of the Japanese economy before Abe took power (both long run problem..
Unstable export markets, worsening terms of trade, and limited access to the markets in advanced countries are just a few of the problems that have plagued nations in Africa, Asia, Latin America, and Middle East. For example, developing countries hav..
how will the quantity of aggregate output supplied respond to the fall in prices. Illustrate what will happen when firms and workers renegotiate their wages.
q.you are the ceo of abc neosho missouri. you manufacture both wood and upholstery products and have yearly sales in
Snacks/beverages versus newspaper sales techniques and expand your discussion to include the benefits that a person gets from consuming other goods and services. Apply the marginal utility and diminishing marginal utility analysis concepts when posti..
If the federal government chooses to increase government expenditures explain the three methods of financing the expenditures in terms of: which is the most expansionary, what are the negative effects of each, and which is the most inflationary.
Betty can make either “12 bottles of wine and 0 boxes of chocolates” or “0 bottles of wine and 96 boxes of chocolates” or a combination of wine and chocolates. Find Betty's opportunity cost of a bottle of wine in terms of box(es) of chocolates.
What is the equilibrium level of national product? What is the government's budget surplus?
The size of the labor force in a community is 500, and 400 of these folks are gainfully employed. In this community, 100 people over the age of 16 do not have a job.
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