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Give two reasons why the long-run industry supply curve may slope upward. Use an example to demonstrate your reasons.
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $9. At the market price of $12.50 per unit, the firm's marginal-cost curve crosses the marginal-revenue curve at an output level of 1200 units. What is the firm's current profit? What is likely to occur in this market, and why?
Write Martha's present-value lifetime income in the three paths she can follow. Do not worry with rounding issues. I am going to be reasonable. Write like this:
Consider two ways to protect your car from theft. The Club ( a steering wheel lock) makes it difficult for a car thief to take your car. Lojack (a tracking system) makes it easier for the police to catch the car theif who has stolen it. Which of the ..
Three alternatives are being considered. Alternative A has a useful life of 3 years; Alternative B, 5 years; and Alternative C, 6 years. Using the longest life (LCM) approach, what is the planning horizon?
In 3-4 pages discuss strategy and organization design of multi-business organizations, the mixed-model approach.
Suppose a company incurs the following costs: labor, $600; equipment, $300; and materials, $200. The company owns the building, so it doesn't have to pay the usual $900 in rent.
Explain how do you calculate the actual dollar reserves that must be kept on hand. What activities are responsibilities of the Federal Reserve.
Assume an economy that consists of consumers, government, business investors and an international sector. we will express this economy this way C+I+G+X=GDP Assume that the MPS is .3 How much can we expect the economy to expand if goverment increases ..
First Problem The production function for fragles is f(K, L) = L/2 + K, where L is the amount of labor used and K the amount of capital used. Does this technology demonstrates increasing, constant or decreasing returns to scale? Is the marginal produ..
The consumption of both x1 also x2. Label income also substitution effects for both goods. Illustrate what is the implication of product differentiation in defining market structure.
1. What is GDP and how is it measured? 2. Evaluate the validity of using GDP as a measure of economic output.
The United States purchased Alaska in 1867 for $7,200,000. Assume that federal tax revenue from the state of Alaska (net federal expenditures) is $56,500,000 in 2018 and that tax revenue started in 1868 and has steadily increased by 3% annually since..
The nation with the lowest cost of production has a?
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