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The 1,000 residents of Great Donut Island are all fishermen. Every morning they go to the nearest port to launch their fishing boats and then return in the evening with their catch. The residents are evenly distributed along the 10-kilometer perimeter of the island. Each port has a fixed cost of €1,000/day. If the optimal number of ports is exactly 2, what must be the per kilometre travel cost? Solve clearly
There are two firms in an in an industry. Let q1 and q2 be the two firms in an industry and Q= q1 + q2 be the total output. The inverse demand in the industry if P (Q)= 45 – Q. The cost function for each firm is C(qi) = 9qi. Assume oligopolistic comp..
When is a producer's self-interest aligned with the social interest? This is one of the major questions addressed by economic theory. The previous chapter explored the behavior of profit – hungry producers in a perfectly competitive market.
Given the work life cycle of the "traditional" woman, it may be rational for women to invest in less human capital than men. older workers are less mobile geographically than younger worker. an economic recession tends to stimulate.
A young investor in the stock market is concerned that investing in the stock market is actually gambling, since the chance of the stock market going up on any
An individual makes $71842 per year. If they move to a city where prices are on average 24 percent lower, and they continue to make the same salary, then what is their purchasing power parity adjusted income?
An athletic director was once quoted as saying that he felt his school spent too much on athletics but that it could not afford to stop.
1. What questions do leaders ask to promote innovation? 2. What is the role of leadership in innovation?
Illustrate what do you expect would happen to coffee consumption? In what direction would the CPI move, ceteris paribus? Would that change correctly reflect the impact on consumers' welfare? Explain briefly.
Using graph, illustrate the effect of an increase of the input price on the production and profit of a one input-one output firm with decreasing return-to-scale technology?
Which of the following statements is true about the middle management in the context of levels of management? A(n) _____ manager is responsible for planning, pricing, and promoting products and making them available to customers through distribution...
When low income countries begin to experience economic growth, they often do so at rates much higher than current growth rates of industrial nations. Which of the following does NOT provide an explanation of this phenomenon.
Describe how the circular-flow diagram works. Name the parts of the diagram that correspond to the flow of goods and services if you were to pay $50 for a new pair of shoes at a local shop. Name the parts of the circular-flow diagram that correspond ..
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