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In the long run with free entry and exit, is the price in a market equal to marginal cost, average total cost, both, or neither?
Explain with a diagram.
Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
They found that getting larger was painful it involved a lot of new administrative infrastructure to get everything organized
Which of following statements is true of a monopoly firm. Drug companies are engaging in price discrimination, but this might improve global social welfare if it gives more people access to drugs
Suppose the U.S. government encouraged new teachers to take jobs in under-performing schools by paying the new teachers a $20,000 bonus. These teachers would be exemplifying the economic idea that A) people are rational. B) people respond to economic..
If one person consumes a public good:
a homeowner can insulate his house and save $50 each year in heating bills. If the interest rates are 6%, should the house owner insulate or not.
In the short run the typical company increases its output but its total cost also rises. Hence, the effect on the company 's profit cannot be determined without more information.
What “backs” the money supply in the United States? What determines the value (domestic purchasing power) of money? How does the purchasing power of money relate to the price level? Who in the United States is responsible for maintaining money’s purc..
q.evaluate relationship among the european euro crisis in 2012 as well as the american economy. evaluate how this
Acquisitions are entry strategies for expansion through the purchase of an existing organization, a unit of an organization, or a product or service.
The price elasticity of demand for Royal Crown Cola is equal to the price elasticity of demand for soft drinks in general It is invalid to make inter product elasticity comparison
Define the concept of an externality. Why will unregulated market systems not allocate resources efficiently where externalities are present? Draw a diagram to illustrate the over allocation of resources to a market characterized by negative external..
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