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a. State and explain the law of diminishing marginal utility and do the same for the law of diminishing returns.
b. Identify and explain two similarities and two differences between these two laws.
c. Then, provide three real world example of each law from your own personal or professional life.
Two firms face the demand equation given by P=200,000 -6(Q1 + Q2) where Q1 and Q2 are the outputs of two firms. The total cost equations for two firms are given by: TC1 = 8000Q1 and TC2 = 8000Q2.
Describe the importance of cost of capital with respect to the actual financial problem of most manufacturing companies.
Several eminent economists have defined this subject in accordance with their different understanding or realization of economic problems.
Neolithic Revolution
Assume that, in a perfectly competitive market at profit maximizing quantity, the market price is greater than average total cost. Describe what will happen to the number of companies,
Forecasting collect data using techniques of estimating demand functions in an attempt to forecast sales and prices.
Calculate the incremental profit that south park would earn by customizing its instruments and marketing them directly to end users.
Describe the roles of financial institutions in the global economy and discuss how the financial services industry is likely to change over next decade.
Compare the two graphs for GNP for Techistan and Growthistan. What is the difference in the final value of GNP for each country and Plot the growth rate for Techistan and Growthistan on one plot.
During 1980's the movie Wall Street seemed to accurately capture themes of the day. Michael Douglas starred in movie as Gordon Gecko
Sometimes market activities have unintended positive or negative effects outside the market scope called externalities. As a rule maker concerned with correcting effects of gases
A monopolist sells in two geographically divided markets, the East and West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each and every market are as follows:
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