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Write a small paragraph (2 or 3 sentences) to explain each of your answers
In long-run competitive equilibrium, product price equals long-run average cost and also equals long-run marginal cost. Thus, economic profit equals $0. Please explain why firms have not incentive to exit the industry.
How can a small special-interest group win, since the benefits flow only to a small group, under a situation of majority voting?
They use the Internet to pay babysitters. With no cash, does the nature of money change? Should the Federal Reserve change the definition of M1?
What will the sustainability movement look like over the next 20 years? What issues do you expect to take center stage? How will business respond?
Richard Dulski’s firm is about to bid on a new radar system. Although the product uses new technology, Dulski believes that a learning rate of 80% is appropriate. The first unit is expected to take 720 hours, and the contract is for 45 units. What is..
Explain how does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter.
An economy produces 2 goods soda a beer. Fully explain why the marginal cost function in the beer industry derives from the marginal benefits of the soda that is given up when beer is produced.
A company borrowed $200,000 at an interest rate of 10% compounded annually over five years. The loan will be repaid in installments at the end of each year in the amounts of: What will be the size of the last payment in year 5 that will pay off the l..
Discuss how the consumer assesses the value of marlboro cigarettes. How does it compare to competing marlboro on the market? Is value based on price, product attributes, something else, or a combination of things?
you agree with the argument which the copyright owners of the materials mentioned should not be paid a fee if their material is on YouTube.
Assume that the market wage rate is $150 per day. Illustrate what rule should leadbelly follow to hire the profit-maximizing amount of labor.
elucidate the effects of such expectations on the following variables today: output (Y), nominal interest rate (i), exchange rate (E), investment (I) and trade balance
What are the equilibrium level of income and the equilibrium interest rate?
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