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A firm sells 1,000 units per week. It charges $70 per unit, the average variable costs are $25, and the average costs are $65.
a. What should the firm do in the short run? Why?
b. What should the firm do in the long run? Why?
c. At what price would the firm consider shutting down in the short run?
d. At what price would the firm consider shutting down in the long run?
Why does a prospective monopolistic competitor find it relatively easy to start production in the long run?
Search for the Perfect Jeans We all have them. And if you don't, you are probably looking for them-the perfect pair of jeans. Preferably, they are faded, soft.
Analyze short-run and long-run production and cost functions
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There are three key organizational resources that are relevant and important from the perspective of MIS and that help to create competitive advantages.
Suppose that Jack's wage rate is $20 and that his marginal product of time in the household sector is $10 per hour. Suppose that Jill's wage rate is $30.
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A dollar appreciation against the Swiss franc is no guarantee that the dollar will "go further" than it previously did in acquiring Swiss goods. Do you agree?
According to the model of intertemporal choice, what are the major factors which determine how much saving an individual will do?
what are the differences between real and nominal rates? explain why this is important to induce action on the part of
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