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If Fixed Costs are 46 and Variable Costs are 35 at 3 units of output, what are average variable costs? i.e., what are variable costs per unit at 3 units of output?
Briefly explain why empirical consumer demand studies such as Patrick McCarthy's study of automobile demand are relevant to managers?
Quantities purchased are the same but prices are not. What does this mean in terms of the marginal rate of substitution at those quantities?
Consider a consumer with preferences over newspapers (x) and books (y) that can be represented by the quasilinear utility function u(x,y)=x+2sqrt(y)
Regulations for the banking and financial industries have existed in the United States since the beginning of our country. Give a brief overview f the history of these regulations, focusing mostly on the great depression years of the 1930's.
What are the main elements of classical liberal explanations of growth and development? Compare the internal and external explanations of development and stagnation.
What are the pros and cons of employing a differentiation strategy in a monopolistically competitive market? Cite some of the different ways a firm can try.
One way governments have tried to collect taxes from the wealthy is through the use of luxury taxes. What is true about the demand for luxuries?
Research the term Venn diagrams in the University Library or on the Internet.
suppose that an oligopolistically competitive restaurant is currently serving 260 meals per day the output where mr
Explain Price Ceilings compared to Price Floors. Give examples for each. How do price controls create "Deadweight loss"?
Suppose the US dollar appreciates in its value against the Euro. If you were exporting US made products to Europe, what would happen to prices of your exports?
A monopoly has the inverse demand function P=200-Qand the cost function C=40Q. Set up the profit maximization problem and solve for the profit-maximizing price
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