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A domestic shoe company distributes running shoes and tennis shoes for $95 per pair. The marginal cost of producing a pair of running shoes is $60, and the marginal cost of producing a pair of tennis shoes is $45. A Chinese retailer offers to purchase running shoes for $55 per pair and tennis shoes for $55 per pair for distribution in China. Should the shoe company sell any shoes to the Chinese retailer? (Ignore any potential issues of bundling the two types of shoes together as part of the sale and any competitive effects that international sales might hace on current domestic sales)
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss.
the price level and the money supply over the business cycle both in terms of correlation, magnitude and lead vs lag. Give the economic intuition of the results on consumption, investment, productivity, wages and price levels.
How do the different economic systems (capitalism and socialism) differ in the way they answer these three questions – What to Produce? How to Produce? and For Whom to Produce?
g.r. dry foods distributors specializes in the wholesale distribution of dry goods such as rice and dry beans. the
1. suppose that in the market for us meat packers two things happen simultaneously 1. due to growth in less developed
1. suppose that an individual has a utility function uc h lnc hcrepresents consumption of a necessity good such as
consider the following problem there are two generators in this system and there is a load of 1000mw. there is only one
Even before the metals and manufacturing companies described earlier, U.S. railroads in the nineteenth century were M-form organizations based on geography. Why might a large railroad be better organized as M-form than U-form?
Determine the maximum number of lbs. of butter the economy can produce and
The Milwaukee Brewers are playing their archrival Chicago Cubs.Bleacher tickets for the game were sold out and many fans would have attend if tickets were availiable.
Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall
Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost function is STCa(q)=1/2q^2+100q+10 with SMCa(q)=q+100, and using technology B it is STCb(q)=2q^2+6 with SMCb(q)= 4..
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