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Problem: A carpenter quits his job at a furniture factory to open his own cabinetmaking business. In his first two years of operation, his sales average $100,000 per year and his operation costs for wood, workshop and tool rental, utilities, and miscellaneous expenses average $70,000 per year. Now his old job at the furniture factory is again available. What is the lowest wage at which he should decide to return to his old job? Why?
If the equilibrium quantity of pizzas decreases, then the demand shift in the market for pizzas must have been larger than the supply shift.
Andrew has decided to open an online store that sells home and garden products. After searching around, he chooses the software company Initech to provide the software for his website since their product required the least amount of specialized inves..
write down the impacts of currency devaluation and revaluation on international trade? write the factors which increase
Your friend Sam has been asked to prepare appetizers for a university reception during homecoming weekend. She has an unlimited amount of ingredients.
Pre-existing Conditions: Insurance companies do not like to cover pre-existing conditions without being able to rate the premium.
Which of the following statement is trur regarding the relationship between average and marginal cost funtions?
What goods or services do you and your family receive without directly paying for them? How do these goods affect the distribution of economic welfare?
*Dayan's Doorstops, Inc. (DD) is a monopolist in the doorstop industry. Its cost is C = 100 - 5Q + Q2, and demand is P = 55 - 2Q. a. What price should DD set to maximize profit? What output does the firm Produce? How much profit and consumer surplus ..
Most elementary and high school teachers have been women, both in the past and present. What sorts of changes in their labor market might explain the declines.
explain how rent seeking can lead to a drop in production of goods and services. what role might the underground economy play in lessing the drop in productie activities.
Calculate the range of optimality for the profit contribution of x1, that is, the c1 coefficient.
What does the Laffer curve represent?
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