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The answer depends of which assumptions we make. · If we assume that the firm always chooses an efficient production, then it is impossible that more units would cost less. That follows directly from the definition of efficient. If it was cheaper to produce 100 units of the good than 90 units, one could easily decrease the cost of producing 90 units by instead producing 100 and then throw away 10 units.
· If the firm has not chosen an efficient production, it is sometimes possible to produce more of the good at a lower cost. However, that assumes that the firm did not maximize its profit before the change.
· The firm can often lower its cost in the long run, as compared to the short run.
Small firms can discover the abilities of their workers more quickly than the large ones because they can observe the workers more closely at a variety of tasks. Does it then make sense for people with high abilities to go to smal firms.
What is the Exy and what does that number mean and what is the relationship between these two goods - What would happen to total revenue with the price reduction
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Jack shares a small apartment with some roommate. There are many cans of baked beans in the pantry. Jack is very hungry, and consumption of baked beans yields marginal benefits to Jack of 16-3Q, where Q is the number of servings of beans. The beans m..
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Use the inverse matrix method to solve for equilibrium level of national income and the equlibrium rate of interest in this economy.
Analyse the impact of an increase in the price of crops and a (proportionately smaller) decrease in the price of fuel on a low income person who spends most of her income on food (derived from crops).
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bayer schering pharma ag germany owns the alka-seltzer which was launched in 1931 and was meant for relief of minor
a describle the notion of balance of trade accounting?b describe the following current accounts merchandise trade
Consider a variant on the Aghion and Tirole (1997) model. Poppy, the principal, and Aiden, the agent, together can decide on implementing a new project, but both are unsure of which project is good and which is really bad. Given this, if no on..
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