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1. if the marginal cost of seating a theatergoer is $5 an the elasticity of demand is -3, the profit maximizing price is?
2. A firm determined that its total cost of production is TC=200 +10Q +5Q2. At 10 units of output, the firm's marginal cost is?
3. If output is produced according to Q=4LK, where L is the quantity of labor input and K is the quantity of capital input, the price of K is $10, and the price of L is $5, then the cost minimizing combination of K and L capable of producing 32 units of output is?
Could you please tell me an example and describe example of macroeconomics?
what is stagflation
Positive and normative economics -introductiion Economic theory or analysis evolves from basic propositions about how individual human beings (or individual economic units) beh
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
how can a country maintain equilibrium GDP with foreign trade?
#questionKeynes liquidity Preference theory stipulates that money demand is negatively related to current income and positively related to interest rate..
Explain the adjustment to the new equilibrium price from an increase in supply.
1a. Show on the market for milk the effect of the introduction of BGH (bovine growth hormone). 1b. Show on the market for cheese the impact of what happened in the milk market.
In 2010, Wonderlanders consumed 15 million liters of rum at an average price of $5 per liter. The Wonderland department of commerce has estimated that the price elasticity of the d
Consider an economy that produces only three types of fruit: apples, oranges & bananas. In the base year the production & price data are as follows: Fruit
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