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A profit-maximizing monopolists charges at a price of $12. The intersection of the marginal revenue and the marginal cost curves occurs where output is 10 units and marginal cost is $6. Average TOTAL COST FOR 10 units of output is $5. What is the monopolists profit?
What beliefs were shared about when one is considered to be an adult? What behaviors demonstrate adulthood?
Explain how to encourage people to spend more to increase aggregate demand and create employment possibilities.
Kermit is considering purchasing a new computer system. The purchase price is $130,725. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments o..
If the seller cannot discriminate, but must charge the same price p1 = p2 = p to each group, what will be her profit-maximizing price? Which, if any, consumer group benefits from price discrimination?
Assume Aaron and Jose each own a small ranch and each produces milk and cheese. One of them is better than the other at producing both milk and cheese (but we don\'t know who). Which of the statements below cannot be true regarding absolute or compar..
Free zone would happen if the central bank lowered the federal funds rate and buy securities on the open market.
All stratified societies have groups of individuals that do not produce, but still receive a ‘cut’ of the social surplus. How does Diamond argue that these ‘privileged’ individuals manage to convince productive members of society to give them some of..
What is the relationship of marginal productivity and wage rates? How does value of productivity determine wage rates. Why do engineers earn more than a person working in a fast food restaurant?
How has the news media evolved from the nation's founding to what it is today? discuss the various functions the news media has in American society? how well do you feel the media carries out these functions?
The revenue function R(x) and the cost function C(x) for a particular product are given. these functions are valid only for the specified range of values. Find the number of units that must be produced to break even. R(x) = 200x - x^2; C(x) = 10x + 7..
Imagine the US government would go back to a policy of open immigration. Discuss the effects on the factors of production and affected groups (e.g. unskilled workers) in the United States.
Consider the following situation regarding the trading partners Hong Kong, Japan, and the United States: Hong Kong’s currency is pegged to the U.S. dollar; the Japanese currency (the yen) appreciates relative to the U.S. dollar. How would Hong Kong e..
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