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Why invest capital in purely competitive industries with equilibrium margins that are razor thin and entrants that erode quasi- profits? Suppose volume is not exceptionally large, why then?
500 Words....
Suppose that a monopolistically competitive restaurant is currently serving 230 meals per day (the output where MR=MC). At that output level. ATC per meal is $10 and consumers are willing to pay $13 per meal. What is the size of the firm's profit
Las Cruces Recreations Inc. headquartered in Las Cruces, NM operates a summer camp in Silver City, NM. The cost data for a 12-week summer camp are as follows: Charge per camper = $400 per week Variable cost per camper = $220 per week Fixed costs = $2..
Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?
Refferring to the 10-yer historical period 1990 to 2000,discuss an example of a change in autonomous spending. Research a government policy implemented during that time and discuss the multiplier effect it had on the economy. Make sure your work is c..
Suppose that there are 1,000 hot pretzel stands in New York City. The market demand slopes downward, and the pretzel market is perfectly competitive (and starts in long-run equilibrium). Draw the current (long-run) equilibrium for pretzels. Use two g..
In an effort to bring inflation down they had set interest rates at 5% in 2018. How should the federal resent react if they desire to bring inflation down to 3%. When will they achieve that goal? (Hint: maintain plenty of decimal places.)
What would happen to the demand curve if the major taxi companies lowered their prices? If you were asked to forecast future demand for this firm, how would you set up a forecasting model?
In the case of demand-pull inflation, other things being equal:
Economic laws studied in this unit tell us that as the price of some good rises
Some examples of political problems associated with active discretionary fiscal policy are.... [Select two] Recognition lag taxpayer-funded favors to special interests Action (administrative) lag Operational (impact) lag
After calculating the sample size needed to estimate a population proportion to within 0.05, you have been told that the maximum allowable error (E) must be reduced to just 0.025.
You work for an unemployment agency that distributes unemployment checks to unemployed workers in California. Your boss recently learned that the Governorhas proposed a 21 percent increase in the state minimum wage, and wants you to provide her with ..
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