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In the short run a firms total cost of producing the hundreth unit of output equals $10,000. If it produces one more unit its total costs will be $10,150. whats the marginal and average total cost of the 101st unit and whats the average total of 100 units?
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
The curve that shows quantities of total real output that will be offered for sale at various price levels is called the
In an article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production-Explain how advertising can be employed to allow Tots-R-Us to keep price average above cost without encoura..
Suppose the required reserve ratio were 8 percent of checkable deposits, and the simple deposit multiplier applied. Using negatives to represent a decrease, if the Fed bought $480 of Treasury securities from a bank, the result would be a $ increas..
Identify and explain specific effects of price controls at given prices. Using the hypothetical information in the table on the market for gasoline, complete the following questions: Price of Gasoline (per gallon) Quantity Demanded
Suppose the following equations discuss a hypothetical economy where both the price level and interest rates are fixed.
Suppose you are the owner-manger of an innovative computer software company, and your latest product is so revolutionary.
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, explain how much output must the firm produce to break even?
Explain how the economy affects the success of the auto industry. Economic influences that can affect the industry in a negative way.
If the policy interest rate is near zero, what less conventional monetary policy tools might a central bank use to stimulate the economy? How do these tools work? In what way is central banking in the euro-zone area different from or similar to th..
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1's elasticity of demand is -4 while group 2's is -6. Your marginal cost of producing the product is 50. A determine your op..
What role is government trying to play here What is an externality How does the government of Costa Rica change an externality into a tool for economic development and caring for the environment. How does the government lead the market and lead ch..
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