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Q1. "IBM should never sell its product for less than it expenses to produce." If "costs to produce" is interpreted to mean IBM's average total price is this correct? If it is interpreted to mean average price variable is the statement correct? If it is interpreted to mean marginal cost, is the statement correct?
Q2. Illustrate what closing time should Citywide Spirits Shoppe choose to maximize profits? Compute the increase in profits (relative to the current closing time of 10pm) that would result from extending store hours to 4am. If you recommend a different closing time, compute the increase in profits (again relative to the current closing time) that would result from your recommendation.
Assuming labour demand is downward sloping and that the labour market is competitive, what happens to national income as a result in immigration.
Elucidate the effects of an increase in business investment on the short-run macroeconomic equilibrium.
The university is seeking a grant to cover capital costs. How big of a grant would make this project worthwhile (to the university).
With the decrease in demand for bridge and tunnel crossings, what is the optimal way to adjust tolls: raise tolls, lower tolls, or leave unchanged.
Illustrate what will be level of employment under monopsonistic conditions.
Suppose also that ham and cheese are the only goods that this person buys and that bread is free.
You will need to determine how you will measure strict gun control laws for the states and to define what types of crimes will make up the crime rate.
This question uses the general monetary model, where L is no longer assumed constant.
Explain how do I draw a production possibilities curve for 2 products in an economy if a natural disaster affects one but not the other.
A new Taurus bought in 1994 cost $18,680 and it could have been sold as used in 1995 for $12,600.
In a current newspaper article you also read that The Camera Shop has exhausted its undertaking capital and that no new investors
This is an essay question, but I don't know how to explain. Should I use the supply-demand curve to explain, or use the marginal cost- marginal revenue curve to explain this question.
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