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Which of the following statements is true?
Decreasing returns to scale:
(A) is another name for diminishing marginal returns
(B) Means that a doubling of a firm's factor resources causes a tripling of its output
(C) Occurs in the short run
(D) None of the above.
Jon consumes only two goods: coffee and donuts. When the price of coffee falls, he buys the same amount of donuts and more coffee. Draw a indifference curve and Budget line diagram to illustrate Bob's pattern of consumption. What does this tell us ab..
Assuming which the budget stays the same except for the interest on the debt for 10 yrs which will be accumulated debt
Illustrate what import also export means also give one example of every in fashion area. Conduct a test of hypothesis to conclude whether the mean attendance was more.
For each of the following goods, give your best estimate of its most likely degree of rivalness and (relative) exclusion cost, using the definitions of these variables and the information in the course notes on externalities and public goods.
Imagine a community with only one insurance company that provides coverage to everyone in that community (a universal/single pay or insurer). Currently, the payer does not pay anything for physician office visits. What are intended and unintended con..
Suppose you are considering starting your own consulting firm. You estimate if that if you did not start the firm, your starting salary at a job would be $40,000/yr. The revenues from this firm are expected to be $1,500,000. Determine the pre-tax acc..
Explain how shortages/surpluses are eliminated in a free market system. You can use graphs and specific examples in your analysis. Graphs don’t count towards the word limit. Explain the difference between scarcity and shortage.
It is mandatory that you use proper economic language or concepts such as “demand”, “supply”, “elasticity”, etc. on you posting. Additional research is required and strongly encouraged.
What is an innovation economy? How does it differ from a traditional manufacturing economy?
Consider two consumers, John and Maria, each with an quantity of two goods: corn and sugar. a. John has 30 gallons of gasoline (G) and 20 bags of sugar (S); for that basket of goods, his MRS(GS) is 1G/5S. Maria has 30 gallons of gasoline (G) and 50 b..
question 1nbspa firm that emerges as the only seller in an industry with economies of scale is
Scarecrow Manufacturing will need to begin paying a licensing fee of $5697 at the end of year 6. Scarecrow will have to pay the licensing fee for 8 years, but the fee will decrease each year by $123. Scarecrow wants to spread out this cost so it woul..
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