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1) What is flex time and what advantages/disadvantages does it give companies and workers?
2) Why does statistical estimation need caution especially regarding the long run?
3) Why are economic profits such fleeting things for a perfectly competitive firm? Explain.
When you buy a set of speakers, Best Buy asks if you would like to purchase insurance for your speakers. Assume that paying for new speakers for customers who listen to music at a reasonable level (thus minimizing damage) costs, on average, $150, ..
Write the equation for Total Costs and what is TC when profit is maximized - what is Total Revenue when profit is maximized?
When an excise tax is imposed on a commodity in order to raise revenue for the government or in in order to raise the consumption of the good, then why are these goals in conflict with each other?
Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.
Draw an aggregate production function with typical shape and label it "F". Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios. Efficient institutions are adopted in a country. Label t..
Suppose we observe that as a firm decreases its price its total revenue decreases. Which of the following is a possible value of its price elasticity of demand. Which of the following will not cause a decrease in the demand for apples.
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
If you receive a free ticket to a concert, what, if anything, is your opportunity cost of attending the concert How does your opportunity cost change if miserable weather on the night of the concert requires you to leave much earlier for the conce..
Monopolistically competitive industries consist of a large number of firms, none of which has a large market share. Oligopoly is different. This market structure involves an industry that is dominated by a small number of firms.
As part of the preparations for the arrival of a hurricane, NC residents sought to buy electricity generators. As a result, you expect that in NC
Suppose Jonah and Carlos have a contract, which Carlos chooses to breach. Jonah sues, and a court orders Carlos to pay him the amount he expected to gain at the time they made the contract, net of any amount he actually did receive after the breac..
Find linear demand and supply curves that are consistent with this information and how would the equilibrium price of ethanol motor fuel in the first half of 2008 compare to the price in 2007?
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