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Suppose a firm in a competitive market reduces its output by 20%, as a result the price of its output is likely to?
Suppose a firm in a competitive market produces and sells 150 units of output and earns $1800 in total revenue from the sales, if the firm increases it output to 200 units, total revenue will be?
If a competitive firm is currently producing a levle of output at which marginal cost exceeds marginal revenue, then?
q1. decreased by 4.86 per day wait for a new-patient appointment and by 5.20 per minute wait in the reception room p.
What would be the effective rate of protection on bicycles in China if China places a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on bike components, which together have a world price of $100?
What are the principles that lawmakers should follow in setting up taxes? Explain the three types of tax structure with respect to income. Which of the three types of tax structure is most fair in your opinion and explain why?
Jordan Inc makes basketballs in Vietnam using labor (L) and capital (K). Its weekly production function can be described as: The price of each unit of capital is $40 per unit per week. The labor use varies according to the number of basketballs made,..
Common perceptions of slavery, especially in the United States, associate it with Africans. Was this the case prior to 1500? What was the racial component of slavery during this period? Examine the reasons for the differences in Portuguese involvemen..
Neville has demand function q = .02m - 2p, where m is income and p is price. Income is $8,000 and he initially had to pay a price of $40 per bottle of claret. The price of claret rose to $80. The substitution effect of the price change is?
Illustrate what does this outcome reveal about the size of the multiplier
Suppose the consumption function is C = $400 billion + 0.8Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially (before multiplier effects) with. What will the cumulative AD shift be ..
To counteract the recent crisis, the Federal Reserve has increased the monetary base by trillions of dollars. However, the total money supply in the economy has not increased significantly. Explain this paradox using the model of money supply.
What would be ultimate impact on the equilibrium price also quantity in the market for oak tables if the price of maple tables.
Discuss what tactics southern municipalities used to prevent African Americans from achieving equality before the civil rights era?
Clarify why might the Homo sapiens production possibilities curve have shifted outward to right much more rapidly than persons of Neanderthals.
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