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What is the difference between fixed cost and variable cost? Explain the shape of the Total Variable Cost curve and explain why and how the total cost and total variable cost curves differ.
In a perfectly competitive industry if each firm is identical then we can calculate the number of firms in the industry by
You have been tasked by your boss to forecast what hours of work through your workers would be following a proposed increase. you have had a flexible policy of workers selecting their hours
How can the procyclical movement of interest rates(rising during expansions and falling during contractions) lead toa procyclical movement in the money supply as a result of Feddiscounting Why might this movement of the money supply beundesirable
An increase in _____________ is an increase in the quantity willingly provided at any price, or (equivalently) a decrease in the price necessary to bring forth any particular amount to the market? An decrease in price in one market will (all else ..
The demand curve for a good is very unlikely to be perfectly vertical because A) scarcity and limited income restrict the ability of consumers to afford goods as they become very expensive. B) as the price of a good rises to high enough levels, the ..
Lindenwood Valley believes the Massachusetts statute violates the U.S. Constitution by denying it due process of law. Lindenwood Valley also claims that the Massachusetts statute should be struck down because it violates the Commerce Clause. The..
Produce the profit maximizing level of output and therefore there will be no deadweight loss associated with this production.
If the marginal propensity to consume equals 0.75, a $6,000,000 increase in government purchases will result in what increase to total output, assuming no crowding-out effect exists? A. $4,500,000 B. $6,000,000 C. $8,000,000 D. $24,000,000 E. $1,50..
Compute their TR, MR, ATC, MC and profit/loss schedules and find out the equilibrium price, equilibrium output, unit profit, and total profit at the equilibrium point for these ingenious entrepreneurs.
A firm is targeting 35,000 net monthly profit servicing 2000 cars. What price should the firm charge to realize the targeted profit.
Draw demand, marginal revenue and marginal cost curves. Calculate and show how much this firm will sell and what they will charge. Calculate producer surplus with monopoly and the consumer surplus with monopoly. How much would be produced if this wa..
Price elasticity of demand and Income elasticity of demand What impacts will have the construction of a new natural gas company on oil demand. And on electricity demand? Justify.
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