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In general, marginal cost curve is U-shaped as you learned in my lecture and textbook. However, exception exists. Would you please provide one particular industry as an example to illustrate that MC is not U-shaped? A reference link (URL) to an article which supports your example will be a plus.
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
Suppose that there is a decline in the cost of a unit of capital. In the long run a.) What will be the substitution effect of this change on use of capital and labor, and why How would this be shown on an isoquant diagram (a diagram isnt needed, j..
Describe the difference between rise in demand and an increase in quantity demanded, through giving an example of what would cause an rise in quantity demanded
Construct a table showing the marginal cost of production. What is the minimum price necessary for the company to supply ten thousand copies? How many copies would the company supply at industry prices of $5,500 and $7,000 per ten thousand?
Write your individual answers to the questions listed above together using a minimum of 300 words in essay format in APA style. use APA template in Doc Sharing, using correct economic terms covered in the discussions.
You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
Defenders of Communist economic systems may point out that customers pay lower values for certain goods because government imposes a limit on what manufacturer may charge.
Describe the difference between a movement along the demand curve and a shift in demand and determine what factors cause the supply curve to shift? describe each factor.
Assume the ratio of deposits that banks hold in the form of reserves is 7 percent. Assume further that people want to hold 8 percent of their deposits in the form of cash.
At a 10 percent rate of interest, how much interest will the government pay each year? d) If this same budget deficit occurs for a second year, what would the national debt become? And at a 10 percent rate of interest, now how much interest would ..
Suppose you're a city planner working on new industrial park and contemplating the use of industrial ecosystem. Describe the major advantages and disadvantages of industrial ecosystem which you would consider in making your decision.
If a firm in a perfectly competitive market experiences a technological breakthrough, A. other firms would find out about it eventually B. other firms would find out about it immediately C. other firms would not find out about it D. s..
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