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The next question refers to the following:Total cost schedule for a competitive firm: Output Total Cost 0 $ 10 1 60 2 80 3 110 4 165 5 245
If market price is $60, how many units of output will the firm produce?a. Zero units of output because the firm shuts down.b. 1 unit of output.c. 2 units of output.d. 3 units of output.e. None of the above.
What effect is the new diet likely to have on the number of apple orchards within 100 miles of New York City?
Evaluate price elasticity of demand
Two of the major macroeconomic measures that tell us how 'healthy' the economy is are "the unemployment Rate" and "the rate of Inflation". How do they matter to you as an individual who is part of this economic system
The US goverment offers significant per-unit subsiy payments to US sugar growers. Describe the effects of the introduction of such subsidies on the market of sugar and the market of artificial sweeteners.
To be meaningful, a price ceiling must be below the market price. Conversely, a meaningful price floor - must be above the market price. What impact will a meaningful price ceiling have on the quantity exchanged
What level of output should this firm produce in order to maximize profit or minimize losses - and how many firms in total will there be in this market?
Devise a government subsidy that will induce private education providers to educate socially optimal number of students. Explain. Provide a $ amount for the subsidy.Does it ever make sense to not educate some students. If the example were couched ..
If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
The depreciation schedule for a machine has been arrived at by several methods. The estimated salvage value of the equipment at the end of its 6-year life is $600. Identify the resulting depreciation.
How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-c..
. in the keynesian cross assume that the consumption function is given byc2000.75y-tplanned investment is 100
Poorer countries will eventually converge to the same income-per-capita levels of richer countries
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