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1. Why does entry and exit of firms occur in the long run and not in the short run?
2. Using appropriate diagrams, discuss the role or importance of exit and entry conditiontions in a perfectly competitive market?
3. What is the significance of the shut-down price or point. Explain using a diagram.
Johnny continues to consume burgers and steaks. His utility function is U(xB; xS) = xBxS. The price of burgers is $1, the price of steak is $2, and his income is $40 a day. What is the largest number of burgers that Donna could demand from Johnny in ..
An environmental testing company needs to purchase $40,000 worth of equipment 2 years from now. At an interest rate of 20% per year compounded quarterly, the present worth of the equipment is closest to:
Profit associated with polluting for Friedman Inc are 40Q-2Q2 ,where Q=pollution emitted (in tons) and profit are measured in dollars. Marginal benefit of polluting, derived from this function are MB =40-4Q. how much pollution do you expect Freidman ..
If many states can have balanced budget laws, why has it been so difficult for the federal government to pass and/or stick to attempts to balance the federal budget? How might the very existence of balanced budget laws in some states make it difficul..
q.sharp rises in the cost of milk grain and fresh fruits and vegetables are hitting cafeterias across the country
state whether each of the following events will result in a movement along the demand curve for McDonald's big Mac hamburgers or whether it will cause the curve to shift. If the demand curve shifts, indicate whether it will shift to the left or th..
We use a number of contemporary technologies to enhance services that we provide for our customers. One such technology known as ____________ allows us to observe and track products and services in transport.
How will this change in the level of price affect the demand for money and the equilibrium interest rate.
suppose that an economy consumes all salary income and saves all capital income. Describe if the factors of production earn their marginal product.
Use the IS-LM model to predict the short-run impact on the interest rate and output if the central bank pushes interest rate down at the same time that both consumption and investment fall due to a financial crisis.
DOP =Date of Purchase UP=Units Purchased CPU=Cost Per Unit 1. Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent. Calculate the average unit cost. Beginning Inventory 25 Cos..
Which option should Terim recommend
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