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Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happen to
a. Your firm's costs of production? Explain
b. The price you can charge for your remodeling services? Why?
c. Profits in home remodeling? Why?
Global Investment Group operates in a perfectly competitive industry with the following Cost and Revenue data: What is the loss minimizing output level for the firm?
Derive the firm's supply curve, expressing quantity as a function of price. Derive the market supply curve if North Carolina Textiles is one of 1,000 competitors. Calculate market supply per day at a market price of $47 per unit.
Draw the production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes your allocation today.
Calculate the extra output due to the water project and calculate the annual output of the village if the water project would be installed in $s
Choose a United States multinational firm. In terms of currency denomination, discuss how the company values its revenues and costs.
For an interest rate of 12% and a lifetime of 10 years, which proposal should be selected and calculate your answer in three ways
Assume a given demand curve for massage therapy services. In the context of providing massage therapy services, list, and describe in detail, five different variables that may cause an increase in the demand for these services.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Describe why government regulation is required, citing the major reasons for government involvement in a market economy.
If total consumer expenditure remains the same after a new tax is imposed on cigarettes then spending on cigarettes will decrease and spending on other goods will increase.
economists believe that when two countries specialize and trade , each will be able to buy goods in which the other specializes at a lower cost than it would take to produce these goods itself.
What factors can contribute to unemployment and how can technology lead to greater unemployment, or is it a benefit to the economy?
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