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Show, with graphs, why a monopoly may operate in the upward or downward sloping section of its long term average cost curve but a competitive firm operates only in the upward sloping section.
q1. given production function fxy cxabyb-awhere a b c are positive and bgtaa. discuss the returns to scale marginal
Do you agree/disagree with the following statement: If the government increases the excise tax on bikes, the prices of bikes will rise? However, this will then cause the demand to decrease and as a result prices will fall back to their original level..
What is the expected rate of depreciation in the Korean won relative to the Japanese yen
Suppose that the pre-tax price of gasoline is $1 per gallon. A tax of $0.50 is imposed and is paid by consumers to the government. What must the gross price of gasoline be after the tax so that the consumer tax burden is equal to the producer tax bur..
The income tax is unfair to those who work hard to earn their incomes is an example of positive economic analysis.
Given the current state of energy use, which continues to grow exponentially in such countries as China and India, what measures can the United States and other Western countries take to produce more fuel-efficient and environmentally friendly fuels?..
Jennifer has $10 to spend on tomatoes and cheese. The price of a pound of tomatoes is $2 and the price of a pound of cheese is $4. She has found her utility-maximizing bundle at 2 pounds of tomatoes and 1.5 pounds of cheese. Suppose Jennifer's income..
Review the definitions of Kantianism, Utilitarianism, Liberal Individualism, and Communitarianism. Describe a real-life example for each of them, from both personal and a career perspectives
How do the following matter? (i) size of deductibles for those covered by insurance; (ii) size of the cash marke. (iii) dispensing fees based on the value of the prescription vs. fixed dispensing fees.
A decrease in demand will cause a (n) With the total cost and total revenue curves, we measure economic profit by the ______ between the two curves. With the per-unir curves, we measure economic profit by a (n) ______.
The agreement required the tobacco companies to pay the states $246 billion over twenty- five years. The tobacco companies are going to have raise prices to be able to pay the states.
Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Con..
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