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1. What is the difference between a production function and an isoquant?
2. Faced with constantly changing conditions, why would a firm ever keep any factors fixed? What criteria determine whether a factor is fixed or variable?
Discuss and explain the major barriers to entry into a industry. Describe how each barrier can foster monopoly or oligopoly.
When Joe started his job at the Laundromat five years ago, his wage was $5.00 an hour. Today his wage is $8.50 an hour. If Joe started his job in the base year, and his real wage is the same as when he started, what is the customer Price Index today?
Two companies (A and B) are duopolists who produce identical products. Demand for the products is given by the following linear demand function: P = 10,000-Qa-Qb
What factors affected demand for your product and what pricing strategies did you use
An econometrician has calculated that when a firm minimizes its total cost of producing output Q, it uses the following amounts of the inputs, L and K: These are the least cost combinations of L and K. The market wage and rental rates are given by w ..
Two small open economies, Fixed and Flex, can be described by the Mundell%u2013Fleming model. The countries are otherwise identical except that Fixed maintains a fixed exchange rate, while Flex maintains a flexible exchange-rate regime.
create a financial portfolio for your family. pick five stocks and decide if you will be investing for the long or
What are the differences between economic and accounting concepts of cost. How are prices determined under perfect competition
The supply curve for productXis given byQXS= -340 + 10PX . a. Find the inverse supply curve. P =+Q
Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget change Does your answer depend on the marginal propensity to consume
The cost for loss of heat from the pipe per meter is $4.8/X1/2 per year. Here, X represents the thickness of insulation in meters, and X is a continuous design variable.
questions1.determine diagrammatically and describe how the market for organic grown eggplants will be affected if the
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