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1.Why would suppliers be willing to accept prices that cover variable costs, but do not cover total costs? How does the answer depend on whether the decision is a short-run or long-run decision? Make sure you use the textbook and class notes to answer these questions using the rules of maximizing profits and minimizing losses.
2. On the answer sheet shade the loss minimizing level of output for this firm or describe the area if you can't shade the graph.
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips curve.
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case. Explain.
1. There are only two polluting sources in the region, each of which generates 10 units of pollution for a total of 20 units released into the environment. The government determines that emissions must be reduced by 10 units across the region to achi..
Choose an Oligopoly and describe the industry and explain the general pattern of change of the particular market model and hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a "market economy."
Recent health reports indicate that calcium is asorbed better in natural forms as milk, and at the same time, the cost of milking equipment rises. Examine the probable effects on the market.
a scalping world cup tickets not an easy taskb the economics of scalping super bowl ticketswhen listening please pay
A growing number of businesses-including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains-are feeling the heat from government, the press, and society at large for encouraging harmful
Michelle spends her weekly income of $50 on two goods: cans of hairspray and bottles of nail polish. The price of a can of hairspray is $5 and the price of a bottle of nail polish is $4. If the price of a bottle of nail polish falls to $3:b. the o..
Government decreases current tax, while holding government spending in the present and future constant. (a) How does this effect aggregate output, employment and the real wage What is the multiplier and how does it differ from the government expen..
What are Economies of Scale? Why is it Significant to understand this concept? How can one's knowledge of Economies of Scale contribute to decision making processes in organizations?
The university has built a new parking garage. There is always an available parking spot, but it costs $1 per day. Before the new garage was built, it usually took 15 minutes of cruising to find a parking space.
How could we argue that these markets are notcompetitive and could each firm face a demand curve that is not perfectly elastic?
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