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a. Explain the decision process for a firm trying to determine the optimal quantity of a factor of production to employ.
b. Explain the determination of the optimal level of pollution frrom the perspective of society.
c. What do these two decision processes have in common? How are they representative of microeconomic decision-making in general?
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Suppose the demand for computers. For each of the following, state effect on demand, find the equation of the demand curve if consumer incomes are $30,000,
What are the two firms' best response functions? Show you calculations and what will be the market price, the market output, the output of each firm and the firms' profits?
Does Budweiser have a dominant strategy and what is the equilibrium for this advertising strategy game? That is, in which cell will the firms end up?
You've been appointed by an unprofitable firm to determine whether it should shut down its unprofitable operation.The firm currently employs 70 workers to produce 300 units of output per day.
Suppose Virginia withdrew $10,000 from her bank. If the reserve ratio is 2 percent theen this transaction willl lead to decreasing ____ in checking account balance.
Marianne and Ellen want to form a corporation, Bridal Flowers Company, and thus retain the Bobbo Law Firm to prepare the articles of incorporation. Bobbo Law Firm files the articles of incorporation but Bobbo's paralegal forgot to have Marianne.
Which of the following statements is false a. Natural monopolies do not need to be regulated because they naturally behave to benefit society. b. Oligopoly markets require firms to behave strategically. c. Monopolistic competition produces with exces..
When a firm is no longer able to reduce its long run average cost by expanding, it has achieved its minimum efficient scale of production. legislation that benefits many individuals at the expense of a few is a natural ..
Indicate your understanding of the current state of the economy by reporting whether you believe we are in a recession, a trough, in a recovery, or at a peak of the business cycle given a comparison of current and historical levels of real GDP.
Using such areas as producing and information technology or any related industry or areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
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