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Need to answer the following questions. 2-3 short paragraphs per question. Please use citation's in each of the answers. Will tip based on the grade I get back. I will put through a program to make sure it is all original answer and not just from copy/pasted :) (The same one my teacher uses).
1. What is a price taker? Discuss the assumptions that are made in order to obtain the perfectly competitive model.
2. Define the short-run break-even price. What are economic profits at this price? Why would a firm be willing to operate permanently at this price?
3. An upscale bistro in a small town charges higher prices for the same menu items at dinner time than at lunch time. Does the bistro necessarily practice price discrimination? Explain your answer.
4. What is the social cost of a monopoly? Explain.
5. Explain why the amount that firms spend on advertising depends upon the characteristics of their products.
If an individual is taxed at a 17 percent rate for each extra dollar earned, the reference is to the
Laptops have also become easier and cheaper to produce as new technology has come online. Despite the shift of demand prices have fallen
Define Elasticity and provide a graphical representation of demand curves that inelastic and elastic.
In times of a struggling economic situation, determine the key steps that the Federal Reserve should take to help stabilize the economy. Next, explain how your proposed steps will affect money supply, interest rates, inflation rate, aggregate demand,..
Is the china dishes a personal property? What is a personal property? Do Marlene waver her ownership rights by abandoned the dishes at a dump site? Does Joe have new owner rights to the china dishes when it was found at the dump site?
It is not unknown that nearly everyone in our nation is working for one thing and one thing; money. We spend lots of time during our life time going to school to prepare ourselves for the workforce and then we spend the rest of our lives working to p..
q.suppose a factory can produce a shirt for the equivalent cost of 2 loaves of bread and a household can produce a
q.you are the ceo of a new line of clothing. one of the items you manufacture is in high demand for youths 12-17 are
A producer is hiring 20 units of labor and 6 units of capital (bundle A). The price of labor is $10,the price of capital is $2, and at A, the marginal products of labor and capital are both equal to 20. The producer
Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, the bottom line of the current (last) budget approved by Congress (surplus or shortage). Note that the fiscal year for the federal government is Oc..
Illustrate what was the impact on the supply also demand of labor on one sector of the labor market. Elucidate the factors which affected labor demand also labor supply in the chosen historical example.
When professors get tenure, essentially guaranteeing them lifetime jobs, does this affect the effort they expend on teaching and research? What concept might.
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