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Discuss the concept of the law of "diminishing returns" and why does it occur only in the short run? Differentiate between "the long run return to scale" and "economies of scale."
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
Why does rent control result in a shortage of rental units.
You're the marketing manager of a firm that produces Titanium and sells this metal to two distinct kinds of customers: aircraft producers and golf club manufacturers.
Derive the firm's supply curve, expressing quantity as a function of price. Derive the market supply curve if the company is one of 200 competitors. Compute market supply per week at a market price of $25 per rack delivered and serviced.
Define the term "opportunity cost." Now that you have a definition of opportunity cost weigh the positives and negatives of taking a leave of absence from work and moving out of town to attend college full time, or maintaining your job while atten..
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
What are some ways public policymakers can reduce demand of cigarettes (shift of the demand curve)? Assume the government decides to implement the tax on cigarette manufacturers in order to raise the price of cigarettes. How much does the amount of..
What is the component cost of the equity raised by selling new common stock? What is the maximum amount of new capital that can be raised at the lowest component cost of equity?
The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
Explain the median housing price in a community
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