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Why do marginal costs first fall and then begin to rise? Why are marginal costs important to a firm when making decisions to increase or decrease production?
Starting with the situation in part d, suppose the government starts taxing the population $30 each year without spending anything.
What reliance performance would be measured efficient. Elucidate reliance behavior which would be considered excessive.
Elucidate the Total Cost also the firm total profits. If the above monopolist were to behave like a perfectly competitive firm (operating in the long run), determine its output.
The players are needed to simultaneously and independently select positive numbers. Find out the Nash equilibrium of this game.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
An existing company is considering expanding into a new product line that will use the same factory as its existing products.
Comment on this trade-off between equity and growth. Explain how would you go about resolving the issue if you were the president of a small, poor country.
Consider a simultaneous-move auction in which 2 players simultaneously select bids, which must be in nonnegative integer multiples of one cent.
Discuss an activity or process or product of Wal-Mart that exhibits economies or diseconomies of scale. Describe the source of the scale economy.
If the average level of consumer surplus for each hotel guest equals $24, illustrate what is the total consumer surplus per night.
Analyze the consequences of such a bill and whether or not you would personally favor it. Consider all the costs involved in your analysis.
Illustrate what is the minimum product price at which the firm will operate in the short-run. Elucidate how many workers should the firm employ to maximize profits.
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