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Explain why a monopolist will never produce a quantity at which the demand curve is inelastic - hint - if demand is inelastic and the firm raises its price, what happens to total revenue and total costs?
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?
create a flowchart by describing how money flows from the US Federal Reserve to the individual consumer and back to the government by illustrating the various ways money is distributed through financial institutions..
What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?
Would you expect the price elasticity of demand to be higher at the level of an individual school (e.g., Baker) or at the aggregate level
Assuming that input prices do not vary with the level of output, does this production function display economies of scale? b.The firm is producing in the short run with capital fixed at 9 units. The fixed costs of the firm are $1000 in the short ru..
With respect to price elasticity of demand, create a graph using the information in figure 1. Illustrate the ranges on demand curve that indicate elastic, inelastic, and unitary elasticity.
Assume there is an imperfect capital market. Draw a graph to show the optimal years of schooling for an individual with high access to funds but of low ability and an individual with low access to funds but with ..
Use a diagram to show the effects of weak exports and investment on actual versus potential GDP in the Canadian macroeconomy and how might the announced trade deal with the European union provide a source of optimism?
The coach wants to help Omar and has asked him to lead the prayer at the next game. Omar is nervous about whether he should say a Christian prayer or a Muslim prayer. He is also concerned about how to respond to the invitations to attend church.
consider this topic and converse with your fellow classmates about choice, opportunity cost, and comparative advantage with regards to personal brand in social networking sites and/or associations you might belong to.
Explain what short-run impact immigration is likely to have on natives' wages and employment when immigrants are a) substitutes to natives and b) complements to natives. Explain also the so-called immigration surplus for the short-run case.
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