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Assume you are a wheat farmer in North Central Kansas, you have fixed costs per acre of $84, variable cost per bushel is $3.64, and you produce 56 bushels per acre.
-What is your total variable cost per acre?
-What is your total cost per acre?
-If the price you receive is $4.90/bushel, what is your revenue?
-If the price you receive is $4.90/bushel, what is your profit?
-If the price you receive is $4.90/bushel, what is your break-even quantity?
-If you produce 56 bushels per acre, what is your breakeven price?
A worker in Rhode Island can produce 1 pound of corn in 15 minutes and 1 pound of shucked oysters in 10 minutes. A worker in South Carolina can produce 1 pound of corn in 20 minutes and 1 pound of shucked oysters in 60 minutes. Which state has a comp..
What happens to the price level pt when the money growth rate m changes, holding the current money supply mt constant?
Price outcomes of the 5 oligopoly models differ substantially. Which models produces the lowest and highest total profits (all firms combined)? What are the predicted prices? Provide aviation industry examples of routes or markets that might approx..
Which of the following refers to business cycles?
q. assume that the feds inflation target is 2 percent potential output growth is 3.5 percent as well as velocity is a
A decrease in the wage rate
Forward Exchange Rates: Use the information
The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided.
There is a trade off between unemployment and inflation when the aggregate Supply curve is upward sloping. SC Is downward sloping. SC is vertical. Demand curve is downward sloping
Firm 1 and Firm 2 compete in an industry and must decide whether to introduce an upgrade to their existing products. The nature of the strategic interaction is described by the game box, where (Y) means “upgrade” and (N) means “do not upgrade”. Draw ..
What is the role of models in economic analysis? How can it be determined if the assumptions underlying the design of an economic model are overly simplified or overly limiting? At what point do the assumptions invalidate the model? Why?
How have financial innovations increased the liquidity of home mortgages since the late 1970s? Has this increase in liquidity tended to increase or decrease the interest rate on home mortgages? Explain why.
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