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College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing. What is the opportunity cost of taking such a job? Explain why students might be willing to take such jobs. If you were to compare the earnings later in life of workers who had worked as interns with those who had taken summer jobs that paid more, what would you expect to find? Why?
An economist for the widget company estimated following short term production function. Compute the AP and MP mathematically and identify the three stages.
Suppose that you are the only seller of paper in the market, and you know that John already has a printer, how much will you charge him for the (100 units of) paper?
Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and the price in the market for pizza.
About thirty United States localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal although through law they are subject to a 10% federal tax, which currently the government is not collecti..
Even before the metals and manufacturing companies described earlier, U.S. railroads in the nineteenth century were M-form organizations based on geography. Why might a large railroad be better organized as M-form than U-form?
Find out the breakeven output and total sales revenues. Estimate the output that would generate total profit of 60,000 and total sales revenue at that output level.
The firm is considering a quantity discount. The first 400 units can be purchased at a price of $120, and further units can be purchased at a price of $80. How many units will the consumer buy in total?
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
1 describe at least thee types of tangible and intagible resources and capabilities 2 which is more difficult: imitating a firm's tangible resources or its intangible resourrces 3 if a firm is successful domestically,is ti likely to be successful int..
What should be the amount of her quarterly deposits in actual dollars? Support your answer with all necessary steps
In a meeting about whether to store inventory in a company-owned warehouse or rent a warehouse, a colleague says, "We should use our own warehouse and save the cost of renting one." Do you agree or disagree
Long run average costs rise as output increases if and only if the production function is homogeneous of degree p?(0,1). True or false? Explain your answer.
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