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1.) Why do economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs?
2.) If a firm's current revenues are less than its current variable costs, when should it shut down? If the firm decides to shut down, should we expect that decision to be final? Explain using an example.
In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income.
Explain why some countries use country export restrains (VER) instead of imports quota? List and explain at least there reason as to why countries decide to form regional trade agreements. Why we need to make distinction between large and small count..
Considers a monopolist with the following demand curve: P=1000-10Q. The monopolist faces MC=AC=100. Solve for the profit-maximizing level of monopoly output, price, and profits. Suppose a potential entrant is considering entering, but the monopolist ..
Apply the aggregate demand/aggregate supply framework to predict how the chained CPI could potentially impact the economy in the short-run. Evaluate the long-run impacts of the change.
Describe general and categorical grants. Which type of grant is likely to be most effective at increasing public service expenditure? Explain.
Describe three or four key factors that impact the price of truffles. Which of these key factors do you think has the greatest impact on the price of truffles?
Find an article about an event that would cause productivity and costs to change within a single market. What event is altering productivity or costs? Did the event occur in the past, is presently occurring, or may occur in the future?
In 2013 BusinessWeek Online reported that car sales in China had slowed and some car prices had dropped. The price cuts had had the unintended result of consumers waiting for deeper discounts. How does this waiting suggest about supply and demand?
To be a senator, an individual must ________.
Planning is critical for successful project management. Describe the various strategies you would use if you were responsible for managing the Webster University graduation ceremony in the spring.
Another important measure of how an economy is performing is the unemployment rate. But there is more to the unemployment rate than just the headline rate.
Hardwood Cutters presents seasoned as well split fireplace logs to consumers in Toledo, Ohio. The low-cost provider company is of firewood in market with fixed costs.
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