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How are market price, average revenue, and marginal revenue related for a perfectly competitive firm and why? need an essay of a minimum 350 words
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
ABC Company would like to purchase a particular item from a potential supplier. ABC does not know the supplier's specific cost structure for producing this item, but hope to estimate the cost using some information gathered from the supplier. ..
Economists often argue that wage rates reflect productivity. Yet, the wages of house painters have increased nearly as rapidly as the national average, even though these workers use approximately the same production methods as they did 50 years ago.
Suppose that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
Write a brief report describing what shift factors of supply and/or demand might be at work and how you would label those factors. Conclude the report with your forecast of what would likely result one month after the publication of the article.
if the price elasticity of demand for bananas is -1.5 and the price elasticity of demand for grapefruit is -2.5 and the
select any 3 parts of the united states constitution or the amendments to the constitution and write a discussion post
Societies are frequently concerned about whether police are vigilant in carrying out their responsibilities. Many societies have experimented with incentive compensation for police.
riority mail has been one of the most profitable products for the U.S Postal service, between 1995 -1999 and accounting for almost 8% of the Postal Service's mail revenue. Because the Postal Service lost $480 million in the fiscal year ending Sept..
the demand and cost curves for a monopoly firm are as followsaat what output and price will the firm maximize total
When a government wants to increase tax revenue, they will often increase the sales tax on gasoline. Using price elasticity of demand, explain why the tax would be placed on gasoline rather than, say, yachts. What might be the long run effect of r..
A stem cell research project requires expensive specialized laboratory equipment. For this purpose, three pieces of equipment and their associated cash flows (listed below) are under consideration. One piece of equipment must be selected.
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