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Explain briefly why competitive, profit-maximizing firms hire labor until the marginal product of labor (MPL) equals the real wage.
a firm has two divisions each of which has its own manager. managers of these divisions are paid according to their
compare economic development strategies based on import substitutions versus export promotion. your 200 word answer
Given the below supply and demand equations for computers, The company decides to increase its marketing expenses to boost its sales and the new supply equation is P = 90 + 3Q and the new demand curve is P = 280 – 2Q. Discover the new equilibrium pri..
The art of economics consists in looking notmerely at the immediate but at the longer effects of any act o rpolicy; it consists in tracing the consequences of that policy notmerely for one group but for all groups.
If the marginal cost curve lies above the average cost curve, then the average cost curve must be sloping upward and the short-run cost function is always greater than the long-run cost function
Suppose that the banking system is in reserve equilibrium. The Fed conducts an open market buy of Treasury securities in the value of $1 billion.
A, B, and C have the following preferences for fruits: A: apples > bananas > peaches > pineapples B: bananas > apples > pineapples > peaches C: apples > pineapples > peaches > bananas Use the Borda Count method to determine the most preferred fruit.
Assume a monopolist faces a market demand curve
Over the past 25 years, tuition at Brockport State has been steadily rising. During the same time period, the number of students attending has also been increasing. It looks like the quantity is going up as the price increases in violation of the ..
You work at a Gazebo company (Shady Tents) and you hire an economist to estimate the price elasticity of demand for your product, and the estimate is .9 (in absolute value) and this has been fairly stable over the last year. Are you profit maximizing..
if you were the ceo of a womens clothing retail firm what specific strategies can be used to sustain profitability at
Define the term Consumer surplus, Gien good and Income elasticity of demand using graph and equation.
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