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An industry currently has 100 firms, all of which have fixed costs of $16 and average variable cost as follows: Compute marginal cost and average total cost. The price is currently $10. What is the total quantity supplied to the market? As this market makes the transition to its long-run equilibrium, will the price rise or fall? Will the quantity demanded rise or fall? Will the quantity supplied by each firm rise or fall? Graph the long-run supply curve for this market.
Human resources that perform the functions of organizing, managing also assembling the other factors of production
Describe the least cost combination of L and K when output is produced at the rate of 1,000 tons per day. Describe the required outlay for 1,000 tons per day.
elucidate how the proposed carbon tax for australia would help reduce negative externalities, pollution levels in australia.
A growing economy means that the economy is producing more also more stuff, either since it has more resources.
Illustrate what feature of a PPF illustrates increasing opportunity cost also elucidate why does your PPF not have this feature.
Using the current specifications, a new road will cost $1.5M initially, need $120K in annual maintenance, and need to be resurfaced every 10 years for $1.1M. If the highway department's interest rate is 6%, which specification is preferred?
Given a binomial random variable with n = 60 and p = 0.36 find the probability of obtaining between 25 and 35 successes inclusive, to three decimal places.
Economies of scale can be quickly exhausted not everyone wants to ‘shop' from same ‘store' size can also mean diseconomies of scale if focus Is lost and conflict of interest what matters to shareholders is profitability not Challenges (contd.) Do..
decides not to play by the rules of the game. Then illustrate what could the final equilibrium position be.
Firms raise capital from investors by issuing shares in the primary markets
The cost of repairing the valve now is $10,000; and of replacing it is $20,000. If the criterion is to minimize expected costs, which alternative is best?
Consider the following: Clark was considered to have “thought out the concept of marginal utility and its influence on exchange value” without having read Jevons, even though Jevon’s had already published. Discuss how this affected his contributio..
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