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2. Consider the following functions:P = a - XAC = 20 - 2X + 0.1X2(a) If this firm was under perfect competition, what would be the efficient level of output in the long run?
1) What is flex time and what advantages/disadvantages does it give companies and workers2) Why does statistical estimation need caution especially regarding the long run 3) Why are economic profits such fleeting things for a perfectly competitive f..
What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?
suppose alternatively that the government chooses to make military service voluntary. As in in part (a), the government needs a units of the representative consumer's time to run the military, but must now purchase this time at the going market re..
What is the basic determinant of (a) the strength of the transactions demand for money (the location of the transactions demand for money curve) and (B) the amount of money demanded for assets, given a particular asset demand for money curve
Suppose if the public's demand for United States currency increased by $100 Million what action in the "open market" would the Fed have to take to prevent bank reserves from falling?
Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively by selecting "National Accounts" and then "National Income and Product Account Tables."
Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.
The demand for new motor homes in the US is highly cyclical and sensitive to diesel fuel values and interest rates. Given these characteristics, explain the effect of the following on quantity demanded
Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10, Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170
Suppose that raw materials (input R) are fixed at 10 units. Determine the number of units of input L that maximizes the total product function.
Determining who benefits can be tough for negative events, but it's especially important in order to prevent the unscrupulous from recapitalizing on them. Consider the following events and trends, and determine possible winners and losers from an ..
Discuss and explain the differences between short and long run costs and for the short run, discuss what the relationship is in cost theory and production theory and concept of diminishing returns?
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