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What happened when wage rate is below equilibrium vs above equilibrium rate.
Describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
Explain briefly how each of the variables affects the value of an MLB franchise (i.e., use the variable definitions above to interpret, in words, the coefficient estimates with regard to each variable).
There are three consumers A, B and C. Consumer A is willing to pay 40-.25F dollars for a unit of flowers for the public square, B is willing to pay 75-.25F.
assuming that all other factors remain unchanged determine how a firms breakeven point is affected by each of the
Time magazine offers a one-year subscription for $29.95, when the cover price is $3.95 per issues. This is an 85 percent discount.
A volunteer fire department anticipates purchasing a fire truck in 3 years. Today it will cost $625,000 but the cost is increasing to 4% per year. Find the semi annual payments needed to accumulate funds to purchase the truck if funds earn 6% compoun..
Describe in your own words how a perfect competitor maximizes its profit, and why its profit is zero in the long run?
Returns to Scale. Determine whether the following production functions exhibit constant, increasing, or decreasing returns to scale.
You can do as you wish with the money you take out, but the other half will be lost as far as you are concerned. In other words, you can give up $15,000.
Explain why the need to have both a high aggregate demand and a high profit rate for firms to be profitable are two requirements that may stand in contradiction to each other, which in turn may lead to problems in the accumulation of capital and ev..
what are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day?
An industry consists of three firms with sales of $200,000, $500,000, $400,000. Compute the Herfindal-Hirschmann index (HHI)
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