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A tailor must make 8 of the same size suits for a client. The first suit took 13.1 hours to make and the last suit took 8.2 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reached? Express your answer in % to the nearest 0.1%
Suppose the short-run production function is q = 6L^2. If the wage is $12 per unit of labor, then: What is the average variable cost?
In looking at market structures we often see that monopolies are sole providers of a good or service. In looking at utility companies, why are they typically awarded the ability to be monopoly from government?
Elucidate the multiplier concept as it applies in this case also what are the qualifications and limitations of the m.
An article in the Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. What type of agency ..
State your opinion whether your are Federalist or Anit-federalist whether you agree or disagree with a persuasive opposing stance of your opinion for a newspaper or a political speech to the union address?
Why are the Average Cost Curves U-shaped. What is the Law of Diminishing Returns. Discuss a company's two short run options.
Now using the information on input prices also MR, Illustrate what is the optimal input combination.
How has Apple positioned itself to take advantage of unique designs to attract a sufficiently large niche market to surpass the competition in the United States and China? What does the Apple experience tell us about risks associated with strategic a..
List several ways that people and businesses in the green movement are participating.
Other things equal, what effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram to show the expected effects of the equilibrium price level and the level of real output.
When an investment is sunk and durable, why is it a mistake to assess the investment only on the basis of economic profits in the first year? What is a better criterion? Why?
Average revenue schedule of a simple monopolist is : What is the market-clearing price for the monopolist? How much will the monopolist produce? What is the net profit of the monopolist?
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