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Why can the distinction between fixed costs and variable costs be made in the short run? Classify the following as fixed or variable costs:
Advertising expenditures
Fuel
Interest on company bonds
Shipping charges
Payment for raw materials
Real estate taxes
Executive salaries
Insurance premiums
Wage payments
Sales taxes
Rental payment on leased office machinery
Consider this claim: “Markets are a good way to organize an economy as they guarantee that the allocation of resources in an economy will be efficient”. Define what is meant by an efficient allocation, then with the aid of graphs and accompanying int..
The total plant cost for manufacturing CO2 warning devices that have a compact gas detector and a signaling unit is $1,154,400. If the overall cost factor for the plant was 2.61, the delivered equipment cost was closest to:
you are given the following functions in a fully competitive marketmarket demand function qd 20 - 3p market supply
Go back to the numerical example with no factor substitution that leads to the production possibility frontier in figure 5-1. What is the range for the relative price of cloth such that the economy produces both cloth and food? Which good is produced..
1. explain why work done at home is not incorporated however housing services that are also done at home are
A cost-effective policy is always socially efficient. Enforcement costs are critical to the success of environmental program and should be included in the overall social costs of the program when evaluating different policy options
What is the difference between framework convention and a protocol? What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?
Why would an employer be reluctant to hire a person for a job that entailed a considerable amount of specific on-the-job trainning if the person had a high probability of leaving the firm after a year of two? How can this help explain the flatter age..
q.1. you are a monopolist. suppose there are two types of people who buy your product groups 1 and 2. their separate
Explain the difference between the demand curve faced by a purely competitive firm and faced by a monopolistically competitive firm. How does this impact quantity of the firm produces and the price charged? specifically, how do economists define effi..
She can charge different prices in the two markets. Illustrate what is the profit-maximizing combination of quantities for this monopolist.
The economic union can be beneficial but it also cost a nation its sovereignty in monetary and fiscal policies. For instance, Greece could not use monetary policies to help boost its economy. Do you think Greece would have been better off not joining..
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