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How do average variable cost, average fixed cost, and marginal cost vary as production levels for a firm are increased?
Draw a curve for average fixed cost (AFC) as production increases, and explain why the curve continuously decreases.
Draw a curve for average variable cost (AVC) as production increases, and relate the curve shape to the property of diminishing marginal product (sometimes referred to as the law of diminishing marginal returns). Explain the relationship.
Draw a marginal cost curve (MC) as production increases. Is this curve related to the AFC, to the AVC, or to both as production increases? Why or why not?
What is the real mortgage interest rate in 2001, 2002, 2003 and 2004, what are the values in 2000 dollars of Nancy's monthly mortgage payments in 2001, 2002, 2003, and 2004?
1. use the model of supply and demand to explain how a fall in the price of frozen yogurt would affect the price of ice
Discuss what GDP is and what it measures? Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
Critically analyze an "interracial buddy film" in terms of the concepts from Vera and Gordon's "Black and White Buddies I" and "Black and White Buddies II" (linked to week 7).
Graph the demand for and supply of Australian dollars for euros and label each axis. Ceteris paribus, show graphically and explain the effect of an increase in Australian government budget deficits that increase Australian interest rates on the de..
(a) Based on dividing the amount of interest equally between the first and second halves of the year, state the rate of interest for a 6-month period (simple interest method).
1. Why does not a political equilibrium lead to efficiency in the way that equilibrium in private goods markets does 2. Why is a voter in the "middle of the pack" likely to be satisfied with the outcome of political decisions
If a firm had decreasing returns to scale and at all levels of output and it divided up into 2 equal- size smaller firms, what would happen to its overall profits?
Illustrate what is the correlation between all of these, and the level of unemployment and spending therefore GDP.
The Internet boom of late 1990s was hailed as the four advent of a new economy: that would radically alter the face of business companies. By 2002, however, it was clear that new economy had not arrived on schedule.
Suppose the reserve requirement is 4%. If the Fed buys $1 million in bonds from the First National Bank, what is the total deposit creation in the banking system using the simple deposit multiplier?
suppose a consumer has 80 to spend on movie tickets and dvd rentals this month. movie tickets cost 5 and dvd rentals
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