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Demand P (q)=100-2q Total Costs C(q)=10+20q . Calculate marginalcost for a firm in this industry. The marginal cost is graphedbelow, what is special or interesting about this marginal costfunction? Verify the monopolist equilibrium is (Q=20,P=60). What isthe perfectly competitive equilibrium? Calculate dead weight lossarising from the monopoly equilibrium.
Describe the role of the financial institutions and financial markets in our economy. Differentiate between primary and secondary markets. Differentiate between money and capital markets.
A general slowdown in economic activity is termed an economic recession. This is caused by fall in aggregate monetary demand What are the indicators of an economic recession?
What is the Phillips curve? Is the curve completely useless or do you think it can have some use in today's economy? Why or why not?
What strategies that must be considered by company in response to challenges arisen from competitors and new entrants?
Calculate profit for each quantity. How much should the firm produce to maximize profit? Calculate marginal revenue and marginal cost for each quantity.
In a certain year, the population of a small college in Canada was 6500. Ten years later, the student population reached 8000. The percentage change in the college's student population over the ten-year period was:
Elucidate how education, research and development, and technology affect productivity.
Suppose that you are the chief economic advisor to the president of the United States. You are asked to propose a strategy to bring the economy out of recession.
Explain basic socio-demographic information, such as population, major ethnic groups, religions, age distribution, educational attainment, etc. The name of the country and it's geographic location.
When the demand line is perfectly elastic, there is no deadweight loss after taxation and firms must not operate if the market price is less than ‘break-even' price.
The shape of the long-run cost curve is determined by economies and diseconomies of scale. Contrast this curve with the short-run cost curve as it relates to increasing and diminishing marginal returns to labor.
What is the amount of the difference between the maximum premium and AFP, and what is this called?
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