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explain briefly your answers for parts a, b, and c in a post not to exceed 200 words.
Do you agree or disagree with each of the following statements? Explain your reasons.
a. For a competitive firm facing a market price above average total cost, the existence of economic profits means that the firm should increase output in the short run even if price is below marginal cost.
b. If marginal cost is rising with increasing output, average cost must also be rising.
c. Fixed cost is constant at every level of output except zero. When a firm produces no output, fixed costs are zero in the short term.
Find the total quantity produced also every firm's profit in equilibrium. Express Illustrate what happens to these when Firm 1 changes its technology as above.
Illustrate what is OPEC's optimal level of production? Illustrate what is the prevailing price of oil at this level.
When the work was complete, Chuckrow paid Gough the original contract price but refutilized to pay him for the additional cost of reerecting the trusses.
The manager of a corporate division faces the possibility of an audit every yr. She prefers to spend time preparing if she will be audited
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
This will mean replacing one of the weekly passenger flights with a freight flight
Compare to provide also demand conditions in both locations. How many people live in every place.
Illustrate what is the money multiplier. Illustrate what is the available lending capacity.
A television network will allow National Motors to advertise its claim if the appropriate null hypothesis can be rejected
Using the concept of opportunity cost also PPF explain the phrase affluence tomorrow requires sacrifices today
Illustrate what technologies are utilized. Describe the competitive environment within the industry. Is there a dominant firm.
Illustrate what impact might such a reduction in purchases of U.S. treasury securities have on the cost of short- also long-term financing.
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