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What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? How could you graphically illustrate economic profits made by a perfectly competitive firm; monopolist; and firm competing in a monopolistic competitive market?
At what output is AVC at minimum? If the market price of firm's output is $7 per unit, should the firm produce or shut down?
Assume the market for wooden toothpicks is competitive. Earlier this week, in a nationally published study, 4 out of 5 dentists enthusiastically endorsed the benefits of toothpicking for dental health
the cross price elasticity of demand of soft drinks for popcorn is -2.0; and the income elasticity of demand for soft drinks is 1.2. Use this information to answer the following question.
1. part i draw a budget constraint and an indifference curve for an individual who works in period one and is retired
The salvage value is expected to be $150,000 at anytime you sell the machine for the next several years. Your MARR is 10%. What is the optimum economic life you predict for the machine?
a number of towns in the united states have begun charging their residents for garbage pickup based on the number of
Assume that the price of the consumption good (denote it by P) is exogenously given and equal to 2. Use W to denote the hourly nominal wage in the economy
what proportion of sample means from samples of size n 16 graduates fall within acircplusmn3000 from the population
suppose that velocity is constant at 9 but the nominal money supply increases from 1.5 to 1.8 trillion. what must
in order to expel a foreign diplomat that individual must be declared.internationally what is the name of the
What is rent seeking How much, potentially, might this monopolist spend on rent seeking activities Assume that they will earn the same profit you calculated in part c forever, and that the interest rate is 5%.
If the demand elasticity for kiwi fruit is -0.2, would kiwi farmers be better off if tropical storms destroyers 1% of each farmers crops what does that tell you about the farmers incentive to form a cartel
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