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The principle marginal revenue equal-marginal-cost rule for maximizing profit
applies to new firms but not to existing firms in an industry.
does not apply to firms in the monopoly or oligopolistic industries.
applies to all the firms in all industries.
applies only for firm in perfect competition but not in monopolistic competition.
How does this export subsidy affect the domestic price of steel, the quantity of steel produced, the quantity of stell consumed, and the quantity of steel exported. how does it affect consumer surplus, producer suprlus.
Explain why do you think maximising sustainable yield is often suggested as the appropriate goal of fishery.
Van Doren Housing expects to have sales this year of $18 million under its current credit policy. The present terms are net 30; the days sales outstanding (DSO) is 48 days; and the bad debt loss percentage is 4 percent. What would be the incremental ..
Suppose that, instead, the market quantity demanded at a price of $1.33 is only 75,000. How many firms do you expect there to be in this industry.
Suppose that the demand for undocumented immigrants by U.S. employers is Ed =100–w, and the supply of labor by undocumented immigrants is Es =3w, where E is measured in thousands. In the absence of any enforcement efforts (border or otherwise), how ..
Explain why the Fed decreased the federal funds rate during the last two recessions. As you can see from the graph, the Fed raised the federal funds rate in 2004 up to 2006. Again, explain what might have motivated the Fed to act in such a way.
Interpret the following output examining group differences for purchase intentions. The three groups refer to consumers from three states: illinois, Louisiana, and Texas. Assume the significance level is 0.05. In 2-3 sentences, what assumptions can y..
The law of supply states that there is a negative relationship between price and quantity demanded. An increase in consumer income will affect the supply of any given product. Joint output of individuals or nations will be maximized when goods are ex..
An industrial engineer proposed the purchase of RFID Fixed-Asset Tracking System for the company’s warehouse and weave rooms. The engineer felt that the purchase would provide a better system of locating cartons in the warehouse by recording the loca..
Zoltan Novak, and Paul smith both residents of the country of EAST Paragon are discussing whether the economy is operating at full employment. Zoltan, a market analyst argues that with unemployment at 5.3%, the economy cannot possibly be fully utiliz..
A single firm’s innovations in production technology often benefit the production of other firms, because these other firms learn about the new technology and can use some of the ideas in their own production. Why does this positive externality creat..
Suppose that we are interested in the effects of police on crime using data from a random sample of US counties. We plan to regresses the county's number of crimes per capital on the per capita size of the country's police force. This regression does..
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