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Increase in Fixed Costs
Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following:
the firm's AFC (average fixed cost);
the firm’s AVC (average variable cost);
the firm’s ATC (average total cost); and,
the firm’s MC (marginal cost)?
What changes, if any, is there likely to be in these same cost CURVES?
Illustrate what effect does the current supply and currently demand have on this product.
Trace through the circular flow model in Chapter 6. What is the point of the circular flow model, what are some leakages and injections into the circular flow model, and how are the leakages and injections related to the circular flow?
Assume your town decides to levy a tax to raise funds for construction, maintenance also other expenses for local schools. Should the tax be proportional, progressive or regressive.
Suppose a monopolist faces the following demand curve: P=596-4Q. Marginal cost of production is constant and equal to $60, and there are no fixed costs. how much profit will the monopolist make if she maximizes her profit?
Compare and contrast the difference between dynamic (intertemporal) efficiency and static efficiency with respect to non-renewable resources. What are the efficiency conditions for each? What costs reflected in the inter-temporal analysis are not cap..
Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price.
Illustrate the effect of each of these proposed policies in a demand and supply diagram of the gun market. For each question, show the price paid by consumers, th eprice received by producers an dthe quantity of guns sold.
Compare the additional revenue Microsoft makes as it moves from 20 million to 40 million copies of Vista with the additional revenue it makes as it moves
The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are: Marginal utility is t..
Average revenue schedule of a simple monopolist is : What is the market-clearing price for the monopolist? How much will the monopolist produce? What is the net profit of the monopolist?
As we observed in this chapter, central banks, rather than purposefully setting the level of the money supply, usually set a target level for a short-term interest rate by standing ready to lend or borrow whatever money people wish to hold at that in..
3.analyse the two following situations for forms in competitive markets a suppose tha tc 100 15q where tc is total cost
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