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1. Assume all employees are paid the same wage. A decreasing marginal product of labor, while still a positive number, tells us that marginal cost must be increasing. Indicate whether you believe the last statement is True or False, and then briefly explain your answer.
2. A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total costs. If it produces one additional watch, will its average total costs rise, fall, or stay the same? Support your answer.
q1. are there any hiring standards that should be avoided? identify them also explain why they should be avoided?q2.
Does the law of diminishing marginal returns apply to this firm's production process. If so, explain why and find the quantity of labor at which diminishing marginal returns.
AH and PPP are price takers and provide a basic Groom and Check service for $40 per pet (dog). AH has fixed costs of $8,000 less than PPP and average variable cost of $33, which is 10% more than PPP. Calculate the cost functions of both firms. Calcul..
Illustrate what will happen to the equilibrium quantity also price of a product in a competitive marketplace when the increase in demand exactly offsets the decrease in supply.
Monopoly, monopolistic competition, pure competition, oligopoly. Give examples of these things also how do they impact markets, firms and you, as a consumer and/or as a business person.
Evaluate Rusal's prediction by using the demand and supply equations to make a prediction about the movement of world aluminum price.
The Brisbane Manufacturing Company produces a single model of a CD player. Each player is sold for $196 with a resulting contribution margin of $73. Brisbane's management is considering a change in its quality control system. Currently, Brisbane spen..
Determine point price elasticity of demand at P= $3.00. Illustrate what would be new point price elasticity if price were raised to P= $4.50.
Adding four or more flights to existing routes, it will have to add two pilots also flight attendants.
Under what circumstances would Gore be better off giving Bush a head start on putting together his presidential ticket.
shutdown point case average variable cost market price lt average total costnbspif the market price in the above
Write a two- to three-page paper (600 words minimum) examining perfect competition in the value-menu fast-food restaurant business. Address the following questions in your paper: What are the characteristics of perfect competition? Why does this type..
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