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Use the following information for a perfectly competitive firm and the profit-maximizing input-combination rule to identify how many workers the firm will employ to maximize profits.
Number of Workers (L) MRPL MRCL1 $200 $302 150 303 125 304 100 305 75 306 50 307 30 308 10 30
Describe prison labour and elucidate how it affects different cultures also societies and explain the rise and fall of labour in prisons.
The demand and supply curves for gasoline (in billions per year) are given below. Using the equations, find the initial equilibrium price and the quantity in the market for gasoline.
Explain what does the transaction of a buyer and seller directly affect a third party. Is the effect a negative or positive externality.
Find the optimal (profit maximizing or cost minimizing) output of each firm. Find the price that each firm charges at the when producing the optimal output.
Elucidate what should the US Congress also the Federal Reserve do about it?
A major competitor cut their price also the industry sales declined to 8000 shoes per month, If the company wishes to restore
Indicate whether every of the following statements is true or false, and explain why. If a statement is false or true, please give a full explanation as to why that statement is correct or not.
Compute total revenue, marginal revenue, marginal cost, and average total cost of this natural monopoly. What is the profit maximizing output and price for this natural monopoly when the government does not regulate it?
Economic opportunities arise from nations which develop industries in which they have a comparative advantage.
Illustrate what type of fiscal policy did the Congress enacted while the effects of Hurricane Katrina.
Explain are there any present events in the news that you can directly link to concepts or theories covered so far.
Assume that the Bank of China wishes to peg the rate of exchange of its currency, the yuan, in terms of the US dollar. In each of the following situations, should it add or subtract from its dollar foreign exchange reserves? Why?
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