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You compete with many firms offering similar products (monopolistic competition). An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.50. Your marginal cost is constant at $75 across most of your production volume capability. What price will maximize profits? Show the computation.
In the short run, the average total cost curve slopes upward because of:
q1. briefly summarize this loanable funds theory in your own words. identify at least one important entrepreneur that
Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines). Draw 3 isoquants for this production f..
If a bank has deposits totaling $200,000, and their reserve requirement is 10%, what is the total on their required reserves? If that bank had total reserves equaling $50,000, what are their excess reserves? What will banks likely do with their exces..
It seems that it will be the government shifts. The next government with the Social Democrats in the lead wants to operate expansive fiscal policy. A journalist asks to social demokreterna this: you were commissioned to analyze the situation and prov..
Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..
Elucidate the law of demand. Why does a demand curve slope downward. How is a market demand curve derived from individual demand curves.
What difference does it make how societal “development” or “progress” is measured? What difference might it make if the Genuine Progress Indicator (GPI) were to replace the Gross National Product or Gross Domestic Product (GNP or GDP) as the standard..
What impact if any has the policy of 'Quantitative Easing' had on the United States aggregate demand/aggregate supply curves?
5.the benefit of cutting down a forest is 1 million now. the environmental cost of that harvest is 10year forever.1 at
Representatives were to logroll (trade votes) to get their preferred policy to pass, what would be the result. What are the total benefits from each project.
Explain what does efficiency prevail in the Gilroy labor market. If not, what is the size of the deadweight loss. you must use a diagram and show the appropriate values on it.
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