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Suppose the total cost of producing 10,000 tennis balls is $30,000 and the fixed cost is $10,000
Assuming that the cost cures have the usual shape, is the dollar difference between the average total cost and the average variable cost greater when the output is 10,000 tennis balls or when the output is 30,000 tennis balls explain.
Explain how an improvement in lifestyle would alter the shape of the total product curve for medical care. (Assume that both total product and marginal product will increase). Also provide a graph to illustrate your answer.
In spending all his income on beer and pizza, Fred finds that the marginal utility of the last pizza is currently 8, the marginal utility of the last bottle of beer is 4, and the price of a bottle of beer is $1.50. If Fred has maximized his utility, ..
when the colts won the super bowl the demand for peyton mannings jersey was p 210 - 0.002q with a corresponding
Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones? What are the differences between merit pay and incentives? Why might an organization choose one or the other?
Explain why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment rate.
Proviade two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium.
When evaluating potential distribution partners, what are the most important attributes to evaluate? Discuss their relevance for different product categories.
John bought a home after graduation and he is saving for the closing costs ($3000) and down payment. To avoid paying mortgage insurance and to get a better interest rate, he needs a down payment of 20%. He can afford a monthly payment of $700 based ..
Read "Does a stock market crash affect the economy?" (Layton et al 2012, pp. 364–5) Immediately following the attack on the US on 11 Sept 2001, the stock markets plunged and many observers expected a recession in the US (and possibly elsewhere). Q) U..
Explain what the terms of trade are in international trade. What is the exchange rate in international trade? What is the difference between a tariff and an import quota? Do you believe the United States should impose international trade restrictions..
Fred was suffering from a nasal tissue blockage that could be corrected either through an operation or with medical treatment for about two months. Fred's doctor clearly told him that the condition was not acute and he did not need surgery.
Luke has $16 to spend on his lunch at his school cafeteria every week. A slice of pizza (P) costs $2 and a submarine sandwich (S) costs $4. Luke likes an average more than extremes. Draw an indifference curve diagram (place pizza on the horizontal ax..
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