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A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses? Respond to at least two of your fellow students' postings.
Identify also explain the different functions performed in the electricity supply sector by several different types of electric utilities in these markets.
In our look at democracy and sovereignty, one of the things that we observed is that we are seeing a rise of subnational groups in countries around the world. How does one reconcile this apparent trend with the accusation that globalization is le..
Explain how do you define social diversity and business ethics. How has a more diversified labor force affected the corporate structure and economy.
If society wants aggregate demand to increase without changes in the price level, then there must be a)a gap between full employment and the current level of real GDP and an increase in autonomous spending b)an increase in autonomous spending
uppose the Indiana Power Company wishes to maximize profits. The cost, demand and revenue functions have been determined and given below. Determine Indiana Power's profit maximizing price, output and level of profits.
John is willing to purchase 7 computers. This scenario displays the law of demand. Do you agree or disagree.
If the Federal Reserve where ready to cut interest rates next week and officials indicated today that quarter-point cut in federal funds remains firmly on table, despite market expectations of half point cut.
Illustrate what were the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries, How would you explain their success in their competition with the Dutch.
Write an essay of about 3,000 words using the approaches developed in the module to appraise the fiscal strategy of the Conservative-Liberal Democrat coalition government.
Plot both together on a supply-demand graph. Calculate the equilibrium P and Q, and show them on your graph as well. Also calculate CS (consumer surplus) at the equilibrium.
Elucidate what would social security payments have been in 2001 if the actual rate of inflation had been used.
Moreover, she can expect a 5% salary increase each year with this employer. Apply the concept of opportunity cost to calculate the economic cost (as opposed to the accounting cost, which would not factor in opportunity cost) of pursuing the MBA ov..
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