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A copy company wants to expand production. It currently has 20 workers who share eight copiers. Two months ago, the firm added two copiers, and output increased by 100,000 pages per day. One month ago, they added five workers, and productivity also increased by 50,000 pages per day. Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier?
explain in words, and use a graph to illustrate, how a Monopoly decides how much to change and how much to produce. Include Marginal Cost, Marginal Revenue, Demand, Average Total Cost, and Profit. Assume the Monopoly is a Natural Monopoly and draw..
Discuss actions governments can use to restrict free trade; give at least two specific examples and explain the advantages and disadvantages of government restriction on free trade in each situation.
Explain the influences on channel selection
Angelica pickles manager a Quick copy franchise White Plains, New York. Pickles projects reducing copy 5¢ to 4¢ each, Quick Copy's $600-per-week profit contribution will increase by one-third.
Compare and constract equilibrium for a monopolistic fir and that of a perfectly competitive firm. clearly labelled diagrams should be included
How does your decision to invest in a college degree add to your capital stock Show this on your projected production possibilities frontier for ten years from now compared to your production possibilities curve without a college degree
What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?
Determine the price elasticity, and income elasticity of demand and where Q denotes passengers in thousands per year, P the (average) ticket price, and I US national income.
Two firms are competing in an oligopolistic industry. Firm 1, the larger of the two, is contemplating its capacity strategy, which we can broadly characterize as "aggressive" or "passive." The "aggressive" strategy involves a large increase in cap..
Select one principle and create an additional example that will help students understand that principle better. Based on the five economic principles discussed, give your opinion on the one which is the most important and useful concept in your lif..
Explain what type of wage rigidity is most likely to affect the unemployment rates of the following types of workers: a. workers with low marginal labour productivity; b. workers seeking jobs that are typically unionized
In the short run, a firm operating in a competitive industry will shut down if price is less than average total cost, less than average variable cost.
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