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Problem: Are there any patterns with fixed cost size (relative to variable costs) and length of the long- run horizon that explain why some industries have wide fluctuations in profitability and others industries do not?
based on grossly distorted picture how useful do you think gdp is as an economic indicator? what are its limitations as
Draw a smooth convex utility indifference curve and indicate optimal consumption point for a student who chooses not to resell the ticket under (2)
One of the issues that comes up in this chapter is that firms in a competitive market will have zero profit in the long run.
Find variable cost, fixed cost, average cost, average variable cost,and average fixed cost. (Hint: Marginal cost is given by MC = 8q).
Suppose the demand for automobile tires in the US is: Qd=112-2.10P where Qd is quantity demanded in millions of tires and P is the price per tire.
Prove that a voter who prefers Obama over Clinton has to prefer Edwards over Obama and Clinton over Edwards. Present your reasoning.
What is an economic burden? Explain how this concept applies to healthcare, by referring to the findings in the attached article or to your own experience.
Blythman (2013) argues that the demand for quiona from developed countries has pushed up the prices to such an extent that poorer people in Peru and Bolivia.
Economics 711 Midterm Exam October 2010. Find the Frisch demand functions. Suppose that L = 2, δ1 = 1, δ2 = 2, α1 = ½, α2 = ½, ρ1 = ½, ρ2 = ¾, p1 = 1, p2 = 1, w = 23. What is the optimal consumption plan
Impact of Black-Money inclusion on inflation and money supply? Assumption is government confiscates unaccounted black-money from economy and spend that on projects.
Compute the annual depreciation allowances and the resulting book values, using the double-declining-balance method.
Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone
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