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Break out the components of the $28 marginal revenue from the seventh unit sale at $38.31-that is, how much revenue is lost per unit sale relative to the price that would move six shirts per color per day?
n the short run, a firm's total costs of producing the hundredth unit of output equal $10,000. If it produces one more unit, its total costs will increase to $10,150. What is marginal cost of the 101st unit of output.
Suppose that in the year 2010 the number of births is temporarily high. Explain how does this baby boom affect the price of babysitting services in 2015 and2025.
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
Electoral College system take a country named know land that has. Suppose there are 9 small states in know land where each have 1 million people in.
Solve for equilibrium real output and also solve for the equilibrium interest rate.
In 2008, the Fed reduced both the discount and federal fund rates dramatically. But bank loan volume didn’t increase. What considerations might have constrained the market’s response to Fed policy?
how must you consider the issues regarding diminishing marginal returns and economies of scale.
movements along the consumption function while changes in wealth lead to a shift of the consumption function.
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital.
Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.
The research department of Wilson has discovered a new technology on how to make more durable tennis balls and is considering whether or not to adopt the new technique.
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