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Suppose a firm with the usual U-shaped cost curves is producing a level of output such that its short-run costs are as follows: ATC = $0.37 per unit, AVC = $0.32 per unit, AFC = $0.05 per unit, MC = $0.43 per unit. Given these short-run costs, as the firm increases its output, which of the following statements is true?
A) Marginal product of the variable factor must be increasing.
B) Average product of the variable factor must be increasing.
C) Marginal product of the variable factor must be decreasing.
D) The point of diminishing average product of the variable factor has not yet been reached.
E) Marginal product of the variable factor is at its minimum point.
assume youre advising the newly formed russian government formerly the russian ssr in 1991 regarding their policy
Elucidate the factors which contribute to the elasticity of goods. Descriobe how these factors influence consumers to purchases goods or services.
Suppose Sam's Savings Bank has the following balance sheet with all amounts in millions of dollars): Assets Liabilities + Capitol Cash 5 Transactions deposits 267 Deposits at Fed Res 10 Time Deposits 569 Gov Bonds 20 Subordinate Debt 38 Gov Bond A..
At level of inflation explain how long does it take for the price level to double.
when walmart locates in a smaller town, often the local retailers hardware, clothing and appliance are unable to successfully compete and are driver out of business why does walmart have a cost advantage over its competitor and charge lower prices
What is a "crowding out" effect? In which portion of the aggregate supply curve (i.e. the horizontal section, the upward sloping portion and the vertical range) is the crowing out effect likely to be most pronounced? Why?
If the local car wash changes its price for a supreme wash from $13 to $16 and the number of customers change per day from 50 to 40, what is the price elasticity of deman for this service? Is the demand for this service relatively elastic or rela..
What are the equilibrium quantity and price? How much consumer surplus exists in this market? If a $2 excise tax is levied on this good, what will happen to the equiilibruim price and quantity? What will the consumer surplus be after the tax?
In perfect competition, profits will disappear in the long run as new firms enter the market; in a monopoly, profits may exist in the long run. In the short run, both monopoly and perfect competition attempt to minimize total costs.
Why may the efficiency of an algorithm in a system implementation have more importance than in an application's implementation?
Although the U.S. does not have the highest saving rate in the world, Americans save more money than citizens of every other country
Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will on average cost each driver $10,000. Suppose there are 2 types of individuals:those w/$60,000 in the bank and those with $5000 in the bank.
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