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Suppose, at a given point in time, Stephanie's Soda Fountain sells ice cream in a perfectly competitive market and is producing its profit-maximizing level of output. Suppose further that at this level of production its average total cost of producing ice cream is $3.30, average variable cost is $2.50, and price is $3.40. Over time, everything else held constant, the quantity of ice cream transacted will Increase/decrease/remain unchanged Explain why!
q1. you bought two new cds with the last 30 in your checking account and your next payday is on monday. what is the
Analyze and discuss the roles of physical capital, human capital, technology, and natural resources in influencing long-run economic growth of aggregate output per capita. Then discuss how governments can contribute, or discourage, long run growth th..
Suppose that as the result of the crisis in Greece, the Euro depreciates against the US dollar. Why should you care when the US dollar strengthens relative to other currencies? Describe the ways this could impact your life and that of your friends an..
An aggregate supply curve represents the relationship between the:
The model of the market for loanable funds shows that an investment tax credit will cause interest rates and investment to rise. Yet our model of how investors behave claims that higher interest rates lead to lower investment. How can these two oppos..
Why should this policy be undertaken under conditions where economy is at some GDP level less than full employment level? You may use a long run aggregate supply curve to bolster your argument here.
Provide summarized but full discussion of the case in favor of restricting trade. Using a simple model, present the benefits of trade negotiations for countries in today's global economy.
"The current chairperson of the FED is Janet Yelling and she oversees an entity that is strongly influenced by politics and politicians." Do you agree? Why or why not? Be specific and limit your response to one paragraph..
Discuss how an organization benefits from operational planning, and how operational planning and budget planning are related. Explain how system thinking improves operation decision making.
Francisco and Priya have developed an innovative new product and applied for a patent for it. They estimate that there is an 80% chance that their patent will be approved by the US Patent Office. Use a decision tree to determine what Francisco and Pr..
If there are zero transaction costs, firms prefer to hire employees over independent contractors. Employees shirking on the job is an example of moral hazard. Tournament compensation theory predicts that the pay for a CEO is set at a level equal to t..
If we think about a model over time (dynamic), would depletion (production) from a non-renewable resource, we wouldn't have a traditional, static supply curve that is completely based on price. Would the classic demand curve still apply?
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