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The cost of producing a given level of output is minimized
(a) on the inelastic part of the long-run demand curve
(b) where the ratio of factor prices equals the marginal rate of technical substitution
(c) where the wage rate equals the slope of the isoquant
(d) where the ratio of factor prices equals the slope of the isocost line
You are earning 4.8 percent on a certificate of deposit. Inflation is running 2.2 percent. What is the real rate of return on your investment?
Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens?
Evaluate the influences of intellectual predictors of the following economic theorists: Adam Smith, David Ricardo, also Karl Marx.
In the long run, there will be no unexploited scale economies (excess capacity) in
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000, and her expenses for the business were $15,000. When she started her tax and bookkeeping business, Julia gave up her suppleme..
Calculate the Equilibrium buyers and sellers price with no sales tax, and then with 20% sales tax. Assume: S(P^-)=50 + 3P^- D(P^+)=370-3P^+
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -5, while group 2’s is -3. Your marginal cost of producing the product is $40. Determine your optim..
When the Fed adopts a contractionary monetary policy, the interest rate at which the Fed lends to other banks will be expected to and the money supply in the economy would be expected to. The main liability on the Federal Reserve's balance sheet is. ..
In the absence of government interference, there is a constant marginal cost of $5 per ounce for growing marijuana and delivering it to buyers. If the probability that any shipment of marijuana is seized is 0.20 and the fine if a shipper is caught is..
What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase the German products, our demand for euro is going up or down? ..
One criticism is that the IMF's one-size-fits-all approach to macroeconomic policy is inappropriate for many countries. This point was stressed in the Turkey's 18th IMF Program. What do you think? Is it right? How is this affecting international busi..
With showing your work in details, determine the requested information for acontrol chart for count of non-conformities.Trial center line. Trial upper control limit.
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