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The perfectly competitive firm's supply curve is the marginal cost curve above or equal to Average Variable Cost. What is the relationship described above? What is the shut-down condition? Explain. And how does the supply relationship change in Monopoly?
Would you rather receive $100 today or $120 in one year? b Would you rather receive $205 today or $240 in one year? c Would you rather receive $500 in one year or $610 in two years?
All else equal, in an open economy, how would an increase in the marginal propensity to import (MPI) affect the government purchases multiplier?
In what ways is the need to calculate utility a problem for utilitarianism? Explain the ironic dimension of whistle-blowing with respect to employee loyalty. Describe the pros and cons of legal protection for whistle-blowing. What is a trade secret, ..
Describe the effects of decrease in the population growth rate on the golden rule quantity of capital per worker and on the golden rule savings rate.
Suppose that First National Bank loans out all its new excess reserves to Nancy, who immediately uses the funds to write a check for Mark. Mark deposits the funds immediately into his checking account at Second National Bank. Fill in the following ta..
Suppose you have $120 to spend on food and clothing. The price of food is $4 and the price of clothing is $8. a, Graph your budget constraint; calculate the slope of it. b, Briefly explain why your optimal choice is the point at which your budget con..
Many service industries such as restaurants, night clubs, movie theatres, and hair dressers experience much higher demand during weekends compared to weekdays. Explain a pricing strategy which would increase profits compared to a single price profit ..
A manufacturing company purchased electrical services for the next 5 years to be paid for with $70,000 now. The service after 5 years will be $15,000 per year beginning with the sixt year. After 2 years service, the company, having surplus profits, r..
Find the exact payback period for the following project without interest.
Put this into a table then find the mean and variance. Compare these to the mean and variance for a sum of two dice.
Elucidate why an increase in one firm's output tends to deter production by the other.
q1. explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing
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