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WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
Assume that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
Determine the relationship between and returns to scale and obtain the long-run input demand functions and the total cost function.
Can you please explain the profit maximizing decision the perfectly competitive firm makes in the short run and describe why this firm can make profits in the short run, but profits aren't possible in the long run.
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
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
Discuss the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries? How would you describe their success in their competition with Dutch?
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Find the sample mean and variance of the Credit Score variable and find the sample covariance and sample correlation coefficient of Wait Times and Credit Scores.
Calculate Alex's income elasticity of demand for bagels and what is the pasta sauce makers' estimate of the cross elasticity of demand for pasta sauce with respect to the price of pasta?
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
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