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Suppose the cost of producing q cars is given by c(q) = 7500 + 2000qa. What is the variable cost of producing 10 cars?b. What is the marginal cost of producing the 10th car?
How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry of a firm into a profitable purely competitive in..
Public goods can be produced by either the government or the private sector. Private goods can be produced in either sector as well. The problem is that the market tends to underproduce public goods and overproduce private goods.
Assume that Microsoft is considering a merger. The possible merger faces some threats and that the industry desides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expa..
How much profit does an individual producer make in a month? Is this a long-run equilibrium? If the answer is yes, simply state that it is a long-run equilibrium. If the answer is no, explain whether or not the equilibrium price will rise or fa..
Some nations have very different economies. In the absence of market-set prices, how are prices determined for household goods.
What is the crowding out effect A reduction in private spending as a result of higher interest rates generated by budget deficits that are financed by borrowing in the private loanable funds market.
Which bond would you expect to pay a higher interest rate? Explain why.
Illustrate what will be the consumer consumption of gasoline now and how much will be the amount of rebate.
Every so often, a disgruntled college graduate sues her school on grounds that her tuition payments did not land her the good job she was expecting when she started there. Courts invariably throw out cases like hers. They are, however, willing to ..
Discuss how the Federal Reserve kept the United States from sliding into a deeper recession after September 11, 2001.
Assume that Nancy Pelosi declares that clay fire pits are causing global warming, and demand for fire pits shrinks substantially in the U.S.
An illegal cartel has been formed through 3-leading ready mix cement suppliers in the local market. Total costs at various levels of service a day are as follows:
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