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What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?
Derive the equation for the demand curve facing the airline during the winter month of January if P = $100, PC = 150, BAI = 200, and S+0 (Price should be expressed as a function of quantity.)
Assume that the demand curve for apples is given by Qd = 140 - 5P, where Qd is number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 3P, where Qs is the number of pounds provided.
Describe the pricing strategies in monopolistic competition, oligopoly, and monopoly market models. Explain which market structures are price makers and price takers. What is the difference in the demand curves and why.
At what output is AVC at minimum? If the market price of firm's output is $7 per unit, should the firm produce or shut down?
Compute the marginal product of labor when 9 units of labor are utilized. Assume the firm can hire labor at a wage of $10/hr and output can be sold at a price of $100 per unit. Determine the profit maximizing levels of labor and output.
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
Discuss how the rights of those in the public sector differ from those in the private sector, and how it affects overall public sector productivity.
Examine the basis for the trends in consumption patterns, as discussed in any article and explain what has occurred to change the demand for, or the supply of, the products, and market prices of those products.
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
A Firm has total cost function given by following: What is the Total fixed cost when Q = 100? And Average fixed Cost when Q=100?
Karen runs a print shop that makes posters for large companies. It is a very competitive business. What is her AFC per poster (not per thousand!) if she prints 1000 posters? 2000? 10,000?
Describe the difference between a monopoly and an oligopoly, and a cartel and provide an example of the monopoly, an oligopoly, and a cartel and write down the welfare effects of monopolies and oligopolies.
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