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Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the dropbox to submit your extra credit assignment.
what is the output level does the marginal cost curve cross the average cost curve. Compute her accounting and economic profits.
Consider an economy with its production possibilities represented by the function Y = A √ K √ L where Y represents total output (i.e GDP), K is capital, L is labor, and A is total factor productivity (TFP). Suppose the economy starts with a capital s..
Why is a market economy susceptible to coordination failures that can lead to unemployment and inflation? What do you think can be done to rectify these failures?
Assume that you were ready to buy a custom tailored Dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, ..
A project has an initial cost of $140,000 and an estimated salvage value after 16years of$80,000. Estimated average annual receipts are $26,000. Estimated average annual disbursements are $16,000. Assuming that annual receipts and disbursement will b..
The following estimates have been obtained for the market demand for cereal In Q= 9.01- 0.68 In P+0.75In A-1.3M, where Q is the quantity of cereal, P is the price of cereal, A is the level of advertising and M is income.
Which is a characteristic of the German health care system?
What are two ways for a competitive firm to determine the optimal level of production, that is, the level of production that will maximize profit or minimize losses
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs. Describe the relation between marginal and average variable costs.
Define the three types of agency authority. List and discuss the provisions of the Family Medical Leave Act. What technology company recently adopted very generous provisions for medical leave for pregnancy?
Suppose that on January 1, the price of one hundred yen was $0.80 and PPP held. Over the year, the Japanese inflation rate was 5 percent and the U.S. inflation rate was 10 percent.
A U.S.-based MNC imports 30 percent of its supplies from Europe. Exports to Europe, which are invoiced in Euros, account for approximately 50 percent of its revenues. Explain how the MNC can reduce its economic exposure to exchange and interest rates..
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