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Price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive because price minus cost equals marginal revenue. and marginal cost are the same in pure competition. is the same as average revenue. is constant regardless of the quantity demanded.
According to law of comparative advantage , who should produce wheat and who must produce Cd palyer? Evaluate all relevant opportunity cost.
General Electric is a large, highly decentralized company. At present it developed these goals, GE had approximately 170 responsibility centers called "departments,"
you select to work more hours or fewer when offered a higher hourly salary.
Using knowledge of aggregate demand and aggregate supply, can you explain what happened in these two time periods?
Assume an economy is going through a Recession what type of Monetary Policy requires to be implemented through the Federal Reserve?
Using diagrams for both industry and a representative firm, illustrate competitive long run equilibrium. Assuming constant costs, employ these diagrams to demonstrate
Define unemployment. Should everyone who does not hold a job be considered "unemployed" To help with your answer, draw a supply and demand diagram depicting the labor market. What is measured along the demand curve
Explain why the authors cite ethnically segmented markets as a factor that holds back private sector development and building entrepreneurial capacity.
Lockheed Martin management is considering your proposal to purchase a new water jet machine for cutting 14 gauge aluminum sheets into C-130 fuselage parts. This is a much cleaner method than the current method of using an oxyacetylene cutting torc..
Suppose that because of the ongoing financial turmoil banks become more prudent: that is, other things equal, banks want to hold more excess reserves and make fewer loans.
The annual growth rate for the population in the state of West Virginia is one of the nation's lowest at 0.30%. Why do you think other states, for example, Virginia, have nearly four times this growth rate
Explain how many hours of labor should XYZ hire each day to maximize its profits.
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