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Squeeze Inc. sells orange juice in a market where there are a large number of consumers and sellers. New firms can enter the market easily and also exit whenever they want to. It sells 40 bottles in a month at a price of $4 per bottle and incurs a cost of $5 per bottle. The average revenue of the firm:
is $4, which is equal to the marginal revenue.
will be greater than the marginal revenue.
will be less than the marginal revenue.
is $2, which is less than the market price.
Assume that Bob is only purchasing two products G and W. The market price of G is $25 and of W is $20. By spending all of his budgeted amount on these two items, he is maximizing utility and receiving 100 utilities from the last unit of G and 80 util..
1. Describe the product, production methods, scale of production, and sources for raw materials. What technologies are used 2. Describe the competitive environment within the industry. Is there a dominant firm
A country has national saving of $70 billion, government expenditures of $20 billion, domestic investment of $30 billion, and net capital outflow of $40 billion. What is its supply of loanable funds?
In the real business cycle model, suppose that government spending increases temporarily (i.e.,Gt increases but Gt+1 does not). Determine the equilibrium effects of this using the diagrams of labor market equilibrium and goods market equilibrium.
Explain carefully why a bank with FDIC insured depositors may have an incentive to take more risk than they would without such insurance? How may the too-big-to-fail policy practiced by regulators affect the incentive for banks to take risk? Explain.
The simple circular flow model shows that workers and capital owners offer their services to firms through the : In the circular flow model, households earn their income in the :
Illustrate how each of the following events would shift the AS schedule and potential RGDP, thereby altering equilibrium prices and output levels in the economy. Use an aggregate supply-aggregate demand diagram in your explanation and assume that the..
What are the similarities and differences between the Bolshevik Revolution and the Chinese Revolution?
In an economy, when income increases from $400 billion to $500 billion, consumption expenditure changes from $420 billion to $500 billion. Calculate the marginal propensity to consume, the change in saving, and the marginal propensity to save.
Why a change in the way government might makes transfers to the poor change the poverty rate even if there is no change in the amount of money transferred?
Illustrate what would you recommend that the firm do given this resource combination.
In year 1 and year 2, two products are produced in a given economy, bicycles and computers. Suppose there are no intermediate goods. In year 1, 500 bicycles are produced and sold at $500 each, and in year 2420 bicycles are sold at $600 each. Calculat..
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