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A petroleum drilling supervisor on an offshore drilling platform decides to add an extra six-hour shift each day to keep the drill rig running 24 hours per day. Determine whether the mananger is concern with a short-run or long-run production decision. Explain briefly in each case.
Write down the consumer budget constraints when young also when old the consumer lifetime budget constraint the government budget constraint also the market clearing conditions.
Local ordinances govern issues such as which of these?
Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff.
A basic characteristic of the short run for both a perfectly competitive firm and a monopolist is that:
Kathleen likes avocado also crab dip. After eating avocado also crab dip with four crackers, she switches to cheese with crackers.
Assume the demand for balloons is P=40-2Q. The supply is P=3Q. What is the equilibrium price and quantity? What is producer surplus? What is the consumer surplus?
How does the Average Total Cost (ATC) of the mines in Canada compared to the ATC of the Alabama mines? Sketch the ATC and Marginal Cost of the whole company (include all mines in the graph, the graph has to be approximate, it should give an idea of h..
Counterfeit goods continue to enter the United States in massive numbers. Indeed, in recent years the U.S. Customs and Border Protection Service has seized over 15,000 different shipments of counterfeit goods per year, including clothing, watches, an..
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
Choose all that apply. Imagine an economy of 10 individuals. Their annual incomes are reported below. Imagine that $100 of Oprah’s income is transferred to Anna. What is true? John - $1000 Kitty - $800 Walter - $200 Steve - $500 Samuel - $800 Bob - $..
All the big computer manufacturers have little "Intel Inside" logos in their television advertisement.
Based on the lags associated with fiscal and monetary policy, which one of the two tends to be more quickly implemented? Justify your answer in one paragraph.
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