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Q. A business employing 8 workers to produce commemorative t-shirts for campus events organizations. They are currently producing 2000 shirts per month with average total cost of $8.00, average fixed cost of $2.00, and marginal cost of $10.00. Calculate the following:
a) average variable cost
b) total fixed cost
Q2. Does Keynes use the term 'classical economists' in the normal sense? Explain.
Outline reasons why the marginal revenue product differs between workers in different jobs.
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Monetary expansion causes the current account balance to increase in the short run. Discuss this statement. Is the same true for fiscal expansion?
Within which sections of the production function is marginal product increasing. Explicate the link between scarcity, choice and opportunity cost
Operating expenses are expected to be $2000.00 the first year and increase by $500.00 each year during the life of the equipment. Is this is a good investment assuming equivalent annual methods?
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Show why the firm should not be charged a per-unit tax on the firms output to compensate for the pollution it discharged into a major river. Devise a game plan for responding to the questions that will be raised in the joint session of the subcomm..
What would the annual percentage change in velocity have to be on average for the quantity theory to hold.
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If Price elasticity of demand for restaurant meals is 2.27 and restaurant meals wants to increase slaes by 45% by illustrate what percentages would the price have to decrease to get the intended resualts.
Suppose that Iggi and Kurt begin trading ice cream and waffle cones with each other. Illustrate what can be said about the trade patterns between Iggi and Kurt.
Compare to provide also demand conditions in both locations. How many people live in every place.
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