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*Define scarcity and opportunity cost. What role these two concepts play in the making of business decisions?
a) what is Marginal Analysis? (b) Why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis?
Suppose a firm's inverse demand curve is given by P = 120 - .5Q, and its cost equation is C = 420 + 60Q + Q2.
(a) Calculate Price (P), Total Revenue (TR), Marginal Revenue,(MR) Total Cost (TC), Marginal Cost (MC), Total Profit and Marginal Profit for Q =15...35.
Q
P
TR
MR
TC
MC
Total Profit
Marginal Profit
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Estimate amount of former foreign-monopoly profit that is transferred as tariff revenue to home nation when home nation imposes tariff.
By signing a trade agreement illustrate what does this imply as regards international trade theory of the Ricordian model.
The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events ocurred:Households increase savings.
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state
Elucidate how that the regression R^2 in the regression. The assumption that more is better satisfied for both goods.
Utilizing the midpoint formula, what is the price elasticity of demand for Coke at these prices. Assume the demand for Coke is a linear line. Would the elasticity of demand be elastic or inelastic at 75 cents a can.
If there are two firms in the market, what are their profits after taking into account the entry cost?
q.suppose two individuals smith and jones each have 10 hours of labour to devote to producing either ice cream x or
Illustrate what is her MPC (Marginal Propensity to Consume) in this case.
Explain how was the second law and end-use analysis linked to socially constructed scarcity.
q1. in which of the following cases should the united states produce more noodles than it wants for its own use and
Treasury funds national debt by a mix of T-bills, T-notes, and T-bonds with maturities of 10-30 years. During President Clinton's administration Treasury proposed that by issuing more T-bills
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