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Economies of scale and diseconomies of scale, what do these terms mean, when do they occur and how do they differ? Can you provide an example of economies and scale and dis-economies of scale.
Then, answer the question below. Which one best described diseconomies of scale?
A. per unit costs increase when all resources are increased.
B. per unit costs decrease when all resources are increased.
C. per unit costs remains constant when all resources are increased.
D. per unit costs is no longer important.
Suppose a consumer live two periods, in the first have an income m1 = 30 and in the second an income of m2 = 20. Suppose the interest rate is 10% and can borrow and lend at that interest rate. What is the maximum quantity he can consume in the first ..
The price elasticity of demand for a particular cancer drug is equal to zero and the price elasticity of supply is equal to 0.50. If a $1 excise tax is levied on producers, how much of this tax will eventually be paid by consumers?
Suppose the general public purchase $500 million in government bonds and pay for them by drawing cheques on their chartered bank deposits. 1) Calculate the (target) reserve requirement
Presume a firm is considering two dissimilar activates X and Y, which yield the total benefits presented in the schedule below. The price of X is $2 per unit and the price of Y is $10 per unit.
a profit maximizing monopolist is earning a positive economic profit. the wage it pays its workers rises. how will the
in what way the US trucking industry exemplified the capture theory hypothesis of government regulation prior to the passage of the Motor Carrier Act of 1980 and the result of hte passage of the Motor Carrier Act in 1980.Determine whether the Justi..
consider the market for corn in the united states. suppose that the mandated percentage of ethanol in gasoline is
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
Which of the following is true for perfect competition but not true for monopolistic competition and monopoly. a. MC = MR. b. P = MC. c. Positive long run profits. d. Both b and c.2. Profit margin equals: a. marginal cost minus marginal revenue. b. a..
Cesar earns $60/week while attending UIC and consumes two goods: Beer (B) and Food (F). Beer costs $1/can and Food costs $3/lb. Cesar has the utility function U(B,F) = 2BF (with B in cans, F in lbs). This means his marginal utility from consuming bee..
Describe as completely as you can what an economist means by demand and discuss (this implies that you are able to discuss why the factor causes the shift and describe the direction of the shift
you are the ceo of abc dress shirt corporation. competition is reducing your market shares and therefore reducing your
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