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A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
What is the firm’s ATC per unit at each of these three levels of production?
If every firm in this industry has the same cost structure, is the industry in long-run competitive equilibrium?
From what you know about these firms cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium?
If that price ends up being the market price and if the normal rate of profit is 10 percent, then what will each firm’s accounting profit per unit be?
Quantity of money demanded is positively related to the value of money and negitively related to the price. Used goods are not included in the Calculation of GDP. Nominal variables are measured in physical units.
How much interest is payable each year on a loan of $1000 if the interest rate is 9% per year when half of the loan principal will be repaid as a lump sum at the end of 3 years and the other half will be repaid in one lump-sum amount at the end of 6 ..
Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource difference..
q1. will each of the following increase decrease or have no effect on the natural rate of unemployment? explain your
illustrate what prevented the villagers from reaching this higher-income allocation of resurces when they acted independently
suppose in a country the real growth rate is 4 and the real interest rate is 6.a calculate the constant debt-gdp ratio
Illustrate what would you recommend that the firm do given this resource combination.
Free trade will affect a country's employment in different industries. Banks can obtain funds to make loans by borrowing reserves from other banks through the federal funds market. When one individual writes a check to another individual the money su..
"Which expression is another way of saying "marginal cost"? "
Draw the Lorenz curves for the rural and urban populations for 1998 and 2010. Be sure to carefully label your axes. What do they tell you about changes in inequality over time in Mexico?
If two countries have identical production possibility frontiers, then trade between them is likely to be beneficial if:
Suppose a country has net exports of 40, transfer payments of 20, net investment income of -15, and a balance of payments surplus of 10. Find the country's current account balance and capital account balance.
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