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what is information contained in an in different curve? why are such curves (a) downward slopping and b convex to origin? why does total utility increase as the consumer moves to indifferent curve further from the origin why cant indifferent curves intersect?
which will cause a larger short run increase in prices; an anticipated or unanticipated increase in aggregate demand? will they cause the same increase in prices in the long run?
The average total cost of operating a clinic is $800 per patient if the volume is one hundred patients, and $790 each patient if the volume is 110 patients. Find the total cost at each of these two volumes?
The State Department of Transportation has called for tenders to supply 10,000 gallons of blue reflective paint to be delivered within two months. You can foresee fitting in a production run of the blue paint and have decided to bid on the job.
Describe the law of demand. Why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve when each of these determinants changes?
Assume that a simple society has economy with only one resource, labor. Labor can be employed to produce only two commodities- X, a necessity good (food) and Y, a luxury good ( music and entertainment). Assume the economy produced at a point inside..
Describe the importance of cost of capital with respect to the actual financial problem of most manufacturing companies.
What does Munger mean by the phrase "the price does the leading"? 3. Munger suggests several challenges that arise from the habit of anthropomorphizing the market. These help to explain people's apparent preference for central planning. What three..
You know from data gathered on the widget market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your widget..
Use demand and supply analysis to assist you, determine the effects on the exchange rate in British pound and the Japanese yen from
When appropriate, the optimal solution to a maximization linear programming problem can be found by graphing the feasible region and: finding the profit at every corner point of the feasible region to see which one gives the highest value.
Determine Acme's total profit function. Assuming that Acme is effectively able to charge different prices in the two markets, what are the profit-maximizing price and output levels for the product in the two markets? What is Acme's total profit und..
Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus?
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