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The graph shows economies of scales in the beer brewing industry.
My graph should show that the SRAC has over 1.5 mil barrels output and the LRAC has over 8 mil barrels output.a. What does this graph tell us the nature of economies of scale in the beer brewing industry?b. What are the particular problems associated with the firm represented by the SATC curve shown in the graph? Does it represent a firm that would be able to survive over time?
Exchange in an island economy.robin and terry are stranded on a deserted island and consume two products, coconut and fish. In a day, robin can catch 2 fish or gather 10 coconuts, and terry can catch 1 fish or gather 1 coconut.
Suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm a monopoly in two markets. The drug can be transported between the two markets at no cost. The demand schedule in the first mar..
What is the most important factor leading to rising health care costs in the United States since 1980? a)The increased use of expensive medical technology b)Teh aging U.S. Population
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs and what best accounts for the saying "Too many cooks spoil the broth?"
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..
A hypothetical study examines the operations of a couple of hundreds medical clinics, with the data for amount of expenses for new medical equipment relative to total expenses in particular year(s), and the amount of revenue per physician in subse..
How important were price considerations in making your college decision? Would a change of a few thousand dollars have mattered and would you expect the price elasticity of demand to be higher for financial-aid students or for non-aid students?
When war broke out in the Middle East, many markets were affected. Most of the worls's oil production takes place in this region and what happens in the market for oil; and (ii) what happens in the market for sports utility vehicles as a result of ..
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