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What must an entrepreneur do to earn a profit? How do the actions of firms earnings profits influence the value of resources? What happens to the value of resources when losses are present? If a firm making losses goes out of business, is this bad? Why or Why not?
what is the highest possible price per unit that could exist as the market price in long-run equilibrium and If that price ends up being the market price and if the normal rate of profit is 10 percent, then how big will each firm's accounting profit..
The most obvious benefit of specialization and trade is that they allow us to work more hours per week than we otherwise would be able to work or else.
What is total U.S. government revenue from the tariff and if trade opens up, what will be the quantity of U.S. imports?
As Malcolm Gladwell points out in his article "High Prices," increases in drug spending are more the result of increases in drug utilization then in increases in drug prices. Why is this relevant to the debate over whether something should be done..
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases
Is energy efficiency the same thing as economic efficiency and under what circumstances would the energy-efficient automobile described here be economical efficient?
Does the Just in time( JIT) method enable companies to be successful with meeting customer requirements or does it cause supply chain delays What is the impact of component shortages when utilizing JIT
The Federal Income Tax Base and Policy Alternatives
1) Does the goal of full employment imply zero unemployment? If not, what types of unemployment would you expect to be present if the economy is at full employment 2) Why is price stability an economic goal What are the problems associated with ra..
a. What is the own price elasticity of demand when Px = $140? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price below $140?
1. began in France with the development of the steam engine and then spread to the UK and the United States. 2. began in 1550 when the English learned how to use coal to replace wood as a heat source and spread to france and eventually the United S..
What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed. Te money supply is increased by 100 while government spending reduced by 250:
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