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Q1. Create a supply and demand graph in Excel that demonstrates the relationship between the amount buyers are willing to purchase and the quantity available. You may select your own data points, but you must discuss the relationship between supply and demand within the economy, as well as discuss the concept of market equilibrium. Please attach your graphs along with your discussion in your response. Provide an explanation for the value graphing supply and demand and analyzing the data can have on decision-making in a business and the economy.
Q2. View "Trade-Offs and Opportunity Costs," located on the YouTube website. Share an example of your own experience in which you had to decide on an opportunity cost that would affect you. What outcome did the decision have on your economic situation?
A firm in a competitive market receives $500 in total revenue and has marginal revenue of $10. What is the average revenue, and how many units were sold?
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant; finally, at very high out..
what are the conditions for a perfectly competitive market? what are the conditions for a monopolistic market? what are
Create a 1,050-word comparison paper including: Compare the different economic systems. Explain which economic system you would select. Include least two sources within the body of your work.
What refers to the use of resources by businesses, individuals, or government to increase productive capacity by developing new technology, obtaining new capital resources, or improving the skills of the work force?
Evaluate a budgeting system at any governmental level. Analyze the scope and sequence of budgeting in terms of sources of revenues, purpose of government expenditures, budget cycles, budget preparation, and debt administration.
what are your thoughts about minimum wage legislation? what kind of a price-control policy is this? who gains? who
How can a firm check that its advertising-to-sales ratio is not too high or too low?
The effective capacity and efficiency for next quarter at MMU Mfg. in Waco, Texas, for each of three departments are given below. Compute the expected production for next quarter for each department.
Discuss the importance of inventory control with respect to supply and demand. What benefit can tools such as ABC analysis and just-in-time controls provide for an organization?
1. according to some translations nobel laureate albert einstein once said god does not play dice with the universe.
A local government has five parcels of land and would like to rent these parcels to three different farmers. The profits for the three farmers when a different number of parcels are allocated are shown in the following table.
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