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1. Explain why the intersection of the average variable cost curve and the marginal cost curve is the point of minimum average variable cost.
2. Suppose no economies or diseconomies of scale exist in a given industry. What will the firm's long-run average and marginal cost curves look like? Would you expect firms of different sizes to be able to compete successfully in such an industry?
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?
the term bogo buy one get one also referred to as buy one get one free has entered the urban dictionary and is a sales
Use a work-leisure diagram that includes nonlabor income to portray an individual who is maximizing utility by working, say, 8 hours per day. Now compare the labor supply effects of imposing (a) a lump-sum tax and (b) proportional tax of, say, 30 per..
A bank offers a nominal interest rate of 1.79% continuously compounded. What is the annual effective interest rate as a percent? Calculate ans to 2 decimal places
Survey equipment is very expensive and become obsoletes and needs to be replaced every 5 years. Consider a new GPS system consisting of a base station ($18,968 today's cost), a rover ($7665 today's cost), and software ($3833 today's cost).
For a range of interest rates from 5% to 25% would your advice concerning whether to proceed with the project change?
if youre the marketing manager of a large corporation which of these financial ratios would you look at first and why?
Compute their TR, MR, ATC, MC and profit/loss schedules and find out the equilibrium price, equilibrium output, unit profit, and total profit at the equilibrium point for these ingenious entrepreneurs.
An increase in government spending or An equal decrease in taxes if consumer confidence is lower than the previous month.
describes a measure used to compare two different tests with the same group of participants to see how closely correlated the two sets of scores are with each other. Inter-rater reliability, Test-retest reliability, Parallel-forms reliability, Intern..
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
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