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Suppose you are a consultant for a firm that is perfectly competitive. The firm is worried only about its policies in the short run. What would you recommend in terms of quantity changes (raise, cut, shut down or stay put) and price changes (raise, cut, stay put) in each of the following situations: a. P=$27 MC=$12 AVC=$33 b P=$99 MC=$54 AVC=$63
What explains that marginal cost increases as production of a product increases?inreasing cost law decreasing average cost property
The taxable income excluding depletion is $50,000. Find the allowable depletion charge for that year. Answer $30,161 $25,000 $50,000 $97,500
A newly graduated engineer bought furniture for $900 from a store. Monthly payments for 1 year will be made. Interest is compounded at a nominal rate of 12%. Build a table that shows the balance due, principal payment, and the interest payment for ea..
If an employee is transporting company materials and gets into a car accident, should the company be held responsible and liable for any damages? Would your stance differ depending on if the employee were on or off the clock?
If actual inflation exceeds anticipated inflation, who will lose purchasing power, and who will gain? How does unanticipated inflation harm the country? As part of your answer, include how you and your employer would both be affected.
A local phone company has three family plans for its wireless service. Under each of these plans, the family gets two lines (phones) and can make local and long dis- tance (within the United States and Canada) calls for free so long as the total numb..
Imagine that the mayor has hired you as a consultant to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
Why is that the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
Use the following equations for labor supply and labor demand, to answer the following questions. L stands for labor and w stands for wage per hour. If the country has a minimum wage implemented of $17 per hour, what exactly will happen to the econom..
If the government unexpectedly levies a five-cent tax on every gallon sold by gasoline retailers, illustrate what will happen to the representative firm's cost curves.
Why do some economists believe the Fed needs to unwind monetary policies instituted during the recession? What is the risk in doing so?
Janice Wallermthe manager of the customer service depart at First Bank of Jefferson County,can hire employees with a high school diploma for $20,000 and employes with a bachelor's degree for $30,0000.
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