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When a firm in a competitive market produces 11 units of output, it has a marginal revenue of $9.00. What would be the firm's total revenue when it produces 8 units of output?
For this assignment, provide an outline of your paper and at least five sources (in APA format) that you are using. Your outline should include the five economic concepts that you will apply to your topic analysis as well. Submit your chosen project ..
The country of Dobermania has 20 units of labor and 3 units of land, while Malta has 80 units of labor and 7 units of land. Is Dobermania labor abundant? Is Dobermania land-abundant? If wheat is land-intensive and cloth is labor-intensive, what is th..
Analyze a situation in which both parties entering into a contract could benefit, economically or otherwise, from slightly ambiguous language contained in the contract.
The following is spending information for a given year in a given country: Businesses spent $2800 on factories and equipment used in production Households spent $1500 on services Households spent $4000 on houses Government spent $2500 on "regular" go..
Discuss the importance of advertising in increasing sales for perfectly competitive firms, monopolies, oligopolies, and firms with monopolistic competition.
Calculate the probability of getting three tickets within a 12 month period for a driver who averages one speeding ticket every 18.6 months.
If an individual performed the following four tasks, mortgage loan processing, textbook printing, residential building and Newsprint paper manufacturing.
what is the cross-price elasticity of demand between computers and CD-RW's? Are these goods substitutes or complements?
Consider a transit line of length L with n equally spaced stations and a terminal. The first of the n stations (n = 1) lies at one end of the line; the terminal lies at the opposite end.
John has the utility function U = Min{x,y}. The price of x is 1, the price of y is 1, and his income is 50. a) Find John’s optimal bundle. b) Suppose now there is a discount for the first 20 units of x John buys such that px=0.5 for those first 20 un..
Due to the increase in price, the supplier will earn how many dollars of new revenue?
Assume a hypothetical economy in which the velocity is constant at 2 and real GDP is always at a constant potential of $4,000. Suppose the money supply is $1,000 in the first year, $1,100 in the second year, $1,200 in the third year, and $1,300 in th..
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