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Prices perform a rationing function by A. eliminating scarcity in the market. B. making sure that buyers do not have to wait for goods. C. allocating goods to the buyers who are willing and able to pay the highest price. D. allowing? high-demand buyers to trade ration coupons.
q.assume that the equation for demand for bread at a small bakery is qd 60 - 10pb 3y where qd is the quantity of
What is the firms revenue function? Graph this function. Give a plausible reason why a firms demand might look like this.
Sketch graph a standard short-run production function, and identify on it the points where the average product peaks, the marginal product peaks, and the marginal product reaches zero, and the average and marginal product intersect.
How do your previous answers change in the special case where cash demand does not depend on the expected rate of inflation
Assume also that the price of cigarettes, the income of consumers, and the price of alcohol.
The more narrowly we define a good, the easier it is to find substitutes, and
In national income accounting, an investment is regarded as. Conclude the probability that the annual net cash flows will be negative.
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land ( a fixed cost ) and half is the cost of labor and machines ( a variable cost ) . If the average total cost of producing wheat is $20 and the..
The ABC Company manufactures digital clock radios and sells on average 3,000 units monthly at $25 each to retail stores. It's closest competitor produces a similar type of radio that sells for $28. If the demand for ABC's products has an elasticity c..
Suppose that a school district pays all high school teachers with the same years of experience the same salary, regardless of teaching field, and that this produces a surplus of History and English teachers, and a shortage of Science and Math teacher..
Evalute the percentage change for the two years. Explain the drastic change and what this meant for the U.S. population.
q1. why was the teamsters union so opposed to allowing mexican truckers to deliver their goods in the united states? as
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