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A firm facing a downward sloping demand curve is producing a level of output at which price is $7, marginal revenue is $5, and average total cost, which is at its minimum value, is $3. In order to maximize profit, the firm should
a. decrease price.
b. keep price the same.
c. increase price.
d. decrease output.
e. both c and d.
Critique or defend two (2) of Jevons' views on public policy. Substantiate your position with evidence of the success or failure of current public policies favored by William Stanley Jevons.
a monopolist has two types of customers. there are 100 of type a who will each pay up tp 10 for a single unit of the
Linda loves buying shoes and going out to dance. Her utility function for pairs of shoes, S, and the number of times she goes dancing per month, T, is U(S, T) = 2ST, so MUs=2T and MUT=2S
Suppose the government mandates that all companies over 50 employees must provide an increased level of health care benefits. explain what effect this will have on the aggregate supply curve.
problem 1assume that in period 0 we have y200 c180 g0 and mpc0.75. assume in period 1 only g increases by 30. how much
If the two are not independent, a shift in the demand curve can lead to a shift in the supply curve referred to as? a)supply-side economics b)physician-induced demand
For the country you have been following this semester, analyze the impact of financial development in its economy. Obtain quarterly (preferably, if not annual) information with at least 35 data points for the following variables:
The purpose of taxes is to generate revenue to allow government to provide services to citizens that they cannot easily provide on their own. If the government chose to reduce taxes by eliminating some tax services
part-1you are the owner of a supermarket that wants to understand your clientiacutes preferences so that you can
One of the stumbling blocks of Voice over IP has been the implementation of a 911 service. The given story appeared on the newswires on Tuesday:
The NCAA prohibits schools that are caught paying athletes from participating in bowl games, and sometimes the punishment is even more severe. Explain why schools don't break away from the NCAA and form a league in which athletes can legitimately ..
For a developing country to grow, it needs capital. The major source of capital in most countries is domestic saving, but the goal of stimulating domestic saving usually is in conflict with government policies aimed at reducing inequality
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