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Short and Long Run. Let's assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Fixed and Variable Costs. After reading Chapter in the text and viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post:
a. First, describe several different fixed costs and variable costs associated with operating an automobile.b. Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
suppose that there is a cultural shift in america emphasizing the importance of saving money as opposed to current
Explain why there is an inverse relationship between the price of bonds and the relevant interest rate. Explain the effect of each of the following upon interest rates and upon the price of bonds:
Compute the elasticities for each independent variable. Note: Write down all of your calculations - Determine the implications for each of the computed elasticities.
during the countrys current economic malaise along with that of our local economy what can individuals and businesses
Why are government imposed "nationalization of industries so pricing is at marginal cost" and "average cost pricing" both second best outcomes to the competitive markets? P=MC=min ATC long run equilibrium?
Presume the demand function is Q=100-P, where Q is the quantity demand and P is the price. Please compute the price elasticity at P=10 (by comparing it with a pair of price and quantity at P=20). Compute the change in total revenue which is P times Q..
As a result of the scale effect associated with a higher wage, the quantity of labor demanded is expected to, Unions may attempt to increase the demand for union workers by, Economic theory predicts that the cost of general training will be,
Could life exist in a molecular cloud? How can astronomers peer into molecular clouds to see what is going on inside when visible light will not penetrate these regions of space? Explain.
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
A study reported that a 10% increase in the price of cigarettes would reduce consumption by 4% in the short-run and by 7.5% in the long-run. Based on these estimates, what happens to the price elasticity of demand for cigarettes as more time elapses ..
The problem belongs to Economics and it is explain about marginal utility and total utility of bracelets and sodas. What happens to the Total Utility received? What happens to the total dollars spent?
The initial cost of the office equipment is $100,000 has an estimated actual life of 6 years, with an estimated salvage value of $10000. Prepare tables listing the annual costs of depreciation and the book value at the end of each 6 years, based on s..
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