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(a) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.(b.) (Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
assuming economy is in a long run equilibrium, show fraction of total output earned by labour and fraction of total output earned by capital. Explain why, in long run, firms make zero economic profits in this economy.
Suppose a woman marries her butler. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee). how does the marriage affect GDP? how should it a..
Elucidate what evidence of excess supply or excess demand can you cite in these examples.
Discribe the difference in economic profit between a competitive firm and a monopolist in both athe short and long run. Which should take longer to reach the long-run equilibrium?
Can we conclude that an individual participating in the program would be worse off if provided with a cash grant of $50 instead of the viagra?
For every firm in group B , long-run ATC curve is U-shaped and intersects the long-run MC curve when ATC = 10 and output is 6.
A firm has two factories, one twice as large as the second. As the number of workers at each factory increases. Illustrate which factory will experience diminishing returns first.
Elucidate how much of the tax is borne by consumers also Elucidate how much by producers. Illustrate what is the new CS also PS.
You plan to withdraw equal annual amounts on your sixty-first, sixty-second, seventieth birthdays. How much will be your annual withdrawal? b. On your sixty-fifth birthday, you decide to withdraw the entire amount remaining. How much do you withdra..
Would the employee be better or if, instead of the health insurance, she was given a £100 per week pay increase which would be taxed at 20%.
What is the total market demand for poly-glue at the price established by Alchemy. How much of the total demand will the follower firms supply.
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