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A vacation home in Malibu is
a. not rival in consumption and excludable.
b. rival in consumption and excludable.
c. not rival in consumption and not excludable.
A manufacturer makes a single product at a cost of $5 each. The manufacturer computes that if each product sells for d dollars, (15 - d) products will be sold. What is the manufacturer's profit function? What price should the manufacturer charge to m..
What must an entrepreneur do to earn a profit? How do the actions of firms earnings profits influence the value of resources? What happens to the value of resources when losses are present? If a firm making losses goes out of business, is this bad? W..
What is the equilibrium wage and employment if the labor market is competitive?
Determine the fixed cost for the bakery, complete the table and plot the marginal and average cost curves and describe the relationship between the curves.
The labor demand curve for Baristas at coffee shops in a certain city is E=300-20W where E is the Barista hours demanded and W is the wage in dollars per hour. The equilibrium wage is $4 per hour but the government puts in place a minimum wage of $5 ..
Imagine that you have been hired as the Manager of Human Resources for the acute care hospital.
What is the least costly way for the firm to produce 80 units?
Explain how country A with comparative advantage in boot making and country B with comparative advantage in wine making can gain from trade with each other. Include in your explanation from where the gains are coming.
discuss how the criterion for efficiency in the dynamic context of stock pollution differs from the criterion in a
gas guzzler motors is one of three major auto producers. it is currently producing 6000 cars a day and selling them at
Suppose that you are on the board of directors of a firm which is the dominant firm in the industry. That is, it lets all of the other firms, which are much smaller, sell all they want at the existing market price. In other words the smaller firms..
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
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