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Define the Law of Diminishing Marginal Returns and apply the marginal/average relationship to describe the behaviour of production in the short run. Be sure to include an analysis of the stages of production and determine why of the three stages, only one stage is rational for the firm.
Assume your parking lot has two different consumers who utilize it at two different times.
According to the production function, with 300 labor hours, illustrate what is this economy's capacity to produce
Cigarettes are also heavily taxed. Illustrate what effect does this tax have on cigarette consumption
At the same time some internet trades such as grocery home deliveries have continually suffered steep losses regardless of scale.
Illustrate what way are entrepreneurs also businesses at the helm of the economy but commanded by consumers.
Illustrate what is the fed funds rate in the banking system. Explain how the Fed manipulates this rate in order to achieve macroeconomic objectives.
Discuss the capture of the regulatory agency and your prediction as to the capture of the replacement regulatory agency and the politicians in the future.
Explain how does economists distinguish between the absolute and relative sizes of the public debt.
Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market.
Now Assume that the interest rate falls to 50 percent, and the household decides not to borrow or lend at all. Is the household better off or worse off with the higher interest rate.
BP Oil is in the process of replacing sections od its Prudhoe Bay, Alaska oil transit pipeline. Illustrate what required return does the project become financially unacceptable.
It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time.
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