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Which of the following equations is FALSE for perfectly competitive firms? A. Total cost = fixed cost + variable cost B. Marginal cost = change in total cost / change in quantity of output C. Average total cost = total cost / quantity of output D. Average variable cost = fixed cost / quantity of output.
explain the structure of the economy and its impact on the gdp of sountry.
The NJ Bureau of Employment gathered the following sample information on the number of hours unemployed workers spent looking for work last week. Hours Spent Searching Number of Un
If demand increases and the supply increases also, then what will happen to the new equilibrium price and equilibrium quantity? Explain what is happening with the curves and how pr
When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first?
use a numerical example to illustrate how credit multiplier works
Differences between absolute advantage and comparative advantage? Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under
A financial manager wants to design an investment portfolio for a client. The client has $50,000 available to invest, and the planner has identified four investment options for the
c) Explain why perfectly competitive markets lead to an allocatively efficient allocation of resources in the long run
the central economic problem facing the group of survivors
Consider the market for the trusty widget (the most common good in the world if economics textbooks are to be believed). Assume that the market is perfectly competitive. Suppose th
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