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Assuming the price of labor is $6 per unit and the price of capital is $12 per unit; compute the total variable costs, the marginal costs, and the average variable costs for the firm.
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost. Using the same numbers, explain the "marginal cost" in terms of additional inputs needed to produce a marginal unit of output. If the output price was $62, how many units of output would the firm produce? Explain.
Store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users.
Trace out exactly where this 100 increase in income goes in the second round and compare to our simpler treatment with a closed economy and lump sum taxes.
If income rises from 1000 to 1800 and consumption rises from 1100 to 1700 the marginal propensity to save.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
Refer to the Real Estate data, which reports information of homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Total hours worked, and average labor productivity all are procyclical. Which variable, output or total hours worked, increases by a larger percentage in expansions falls by a larger percentage in recessions.
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
Explain how each of the following variables will be affected by proposed steps that you have identified in the first part of the discussion: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your respo..
Explain how it will affect the number of employees you schedule. All other things being equal, what will happen to prices of the Galaxy and the iPhone.
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
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