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What are supply side reforms? Identify the main supply-side policies and with the use of examples, explain and illustrate their effects on the maximum output capacity in the Chinese economy.
The long-run total cost function for a firm producing skateboards is: TC = q^2 - 45q^2 + 900q, where q is the number of skateboards per week. MC = 3q^2 - 90q + 900. Find the average cost function and find the output level that minimize the average to..
Net domestic product is usually preferred to GDP by economists because net national product:
a company makes a decision to expand its production line that requires initial investment of 100000. the company
Assume a given country two industries X and Y, and in autarky X is produced by a monopolist (with constant returns to scale). Using a graph, explain the procompetitive and comparative advantage gains from trade.
If the labor supply curve is very elastic, a tax on labor:
A production process using two inputs, labor and capital, can be written as: Determine the least cost combination of L and K if the firm decides to produce 1,000 tons per day. What is the total cost of producing $1,000 tons per day?
Suppose the inverse demand for coal is estimated to be P = 75 - 0.6Q, where P is the price of coal and Q is the quantity demanded. The supply of coal is given by P = 0.3Q. Suppose coal mining produces an external marginal user cost. This cost equals ..
Determine the optimal number of plants that the firm should have to take full advantage of the market demand.
Currency held within chartered banks is considered to be part of:
During the same time, total annual movie admissions have barely changed. What cost factors can explain this trend? In addition, what demand factors might be also be relevant?
Among his many endorsement contracts professional golfer Tiger Wood endorses Buick automobiles. Buick reportedly recently extended his contract for another 5 years at $40 million. If Buick makes $4,000 profit per car they must expect to sell at least..
Pick an existing or proposed environmental policy. Use market failure theory to explain or justify the policy. Then use public choice theory to provide a possible alternative explanation for the policy.
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