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If politicians decide to proceed with protection, why might economists prefer tariffs to quotas? Explain at least four reasons.
what is economics? what role does economics play in your personal and organizations decisions? give an example of the
"A shift outward in the demand curve always results in an increase in total spending (price times quantity) in a good. On the other hand, a shift outward in the supply curve may increase or decrease total spending."
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
Assume an airline flying on the New York - Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travelers.
identify at least five (5) fixed costs and five (5) variable costs OF the NFL (National Football League). If the business or economy slows down, discuss how the industry can control its costs based on the ten (10) costs you identified.
Your civil engineering consulting firm is going to purchase a new computer-aided design (CAD) system at a cost of $100,000. The CAD system will have no salvage value at the end of its useful life of 5 years.
I believe that fast food restaurants show short run production function because of the one fixed input, capital. But, I need to elaborate more and produce the production function equation Q=F (L,K,M...) Can you please help?
Why is the Cournot equilibrium stable? (i.e., Why don"t firms have any incentive to change their output levels once in equilibrium?) Even if they can"t collude, why don"t firms set their outputs at the joint profit maximizing levels (i.e., the levels..
New Light Corporation has just created a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, New Light is expected to experience a 15% yearly growth rate for the next 5 years.
the nation of ectenia has 20 competitive apple orchards which sell apples at the world price of 2. the following
suppose you own a restaurant that serves only dinner. you are trying to decide whether or not to rent out your dining
Determine the Price Elasticity from the Characteristics and make up numbers to use. Be sure to identify this if you use this approach.
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