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Suppose that smokestack filters are such that initial investments in filters yield high reductions in pollution, but as additional filters are added the marginal reduction in pollution declines. You can now think of the firm as using two additional inputs, pollution vouchers and smokestack filters, to produce x output legally. Does the overall production technology now have increasing, constant, or decreasing returns to scale?
Can citizens who speak an official language or than majority language receive official personal documents in that language. What arrangements have been made in this respect.
Elucidate what is the new market price. How many Frisbees are sold angry students marched to Washington, asked Frisbee price.
Find the profit-maximizing choice of q for this miniature farm; also compute profits that will be earned at this choice of q.
Illustrate what is the average labor productivity, in terms of square feet per painter-hour.
Suppose that workers can be hired competitively at a wage of $200. Explain how many workers will they hire at this wage.
Elucidate the cost of producing an additional washing machine when 50 cars are being produced. when 150 cars are being produced.
Estimate the owner's decision to start Sound Devices. Are any of the above costs likely to be one-time costs? If so, how would this affect your answers. Explain.
If the world economy expands so that foreign demand for U.S.-made goods increases, in the short run Illustrate what will happen to aggregate demand, the price level, and real GDP in the U.S..
Derive the total supply function of X for the industry assuming that the industry operated under perfect competition.
If ABC adds an assembly line for the product and XYZ does not follow with a competitive product.
Calculate a marginal cost as well as an average cost schedule for the firm.
Illustrate what output level would monopolist produce. Illustrate what output level would a perfectly competitive firm produce.
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