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Explain how the profit maximizing price and quantity of resources in factor markets under perfect competition are determined by marginal analysis.
Show an example of how to (1) derive compensating variation using indifference curves/budget constraints and (2) derive CV using expenditure function. Also, (3) compute expenditure function from cobb-douglas utility function and quasi linear utility ..
Since your safety officer is insisting that each of your drivers must maintain an average speed of 55mph, what would be the vehicle operating cost of your company for each semi-truck in cent per mile?
A small manufacturing company is considering purchasing a maintenance contract for its air conditioning systems. Since all of its systems are new, the company plans to begin the contract in year four and continue through year ten. What is the present..
Explain three major potential advantages and three major potential disadvantages of foreign direct investment, from a developing country perspective. In your own view, do you think that multinational corporations (MNCs) in less developed countries sh..
Illustrate what happens to output and the optimal scale of a firm, and price if there is a free entry into the market.
1. Create a table listing all tasks separately, with their duration. 2. Identify all dependent tasks, and indicate what predecessor tasks are required.
Suppose that a monopolistically competitive restaurant is currently serving 230 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay $13 per meal. What is the size of this firm’s profit ..
What is social insurance? Discuss the importance of social insurance?
The supply of lettuce in the short run will be? ________ than the supply in the long run and? ________ than the supply today. Deadweight loss is
Professional codes of ethics for mediators require them to maintain strict confidentiality. No matter what they are told by a disputing party, they cannot reveal it to anyone else. Is this a good thing, or should they revise their codes of ethics?
consider an individual earning 1000 per month who also receives 100 per month in food stamps they can only be exchanged
The value of cross price elasticity of demand between goods A and B is 0.75, while the cross price elasticity of demand between goods A and C is -1.38. Characterize A & B and A & C as substitutes or complements. Explain why this is the case.
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