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Short run cost function tables include information detailing average variable cost, average fixed cost. Average total cost, and marginal cost. Which of the figures do you consider most important for an organization to evaluate when determining levels of production? Why do you believe that factor is the most important?
Suppose the price elasticity of demand for bread is 1.00. If the price of bread falls by 20%, the quantity demanded will increase by: Suppose that a 20% decrease in the price of good Y causes a 20% increase in demand for good X. The coefficient of cr..
Would individual mandates for health insurance be more burdensome to the poor than employer mandates? Would lower income groups be wise to favor one plan over the other?
The profit-maximizing firm is operating in a perfectly competitive market where the market price is $100 and the marginal cost curve is determined by the equation MC = 20 + 10Q. What is the output for the firm?
A computer costs $9500 and its salvage value in 5 years is negligible. What is the book value after 3 years? If the machine is sold for $1500 in Year 5, how much gain or recaptured depreciation is there? Assume:
Participate in a discussion with your classmates regarding the trade off between inflation and unemployment. Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural..
What are the macro- and microeconomic indicators affecting the demand and supply forces in the development of a new office building in a suburban office location.
Suppose a firm finds that the marginal product of capital is 60 and the marginal product of labor is 20. If the price of capital is $6 and the price of labor is $2.50, describe how the firm should adjust its mix of capital and labor? What will be the..
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
The probability of accepting the next wage offer is: Which of the following would be considered a real (as opposed to pecuniary) externality associated with migration? The longer the expected length of tenure on the job:
What is allocative efficiency using the benchmark model?
Susan is a single taxpayer, 26 years of age, with AGI of $28,000 and no tax exempt income. She did not have minimum essential coverage for 9 months in 2014. Compute Susan's individual shared responsibility payment for 2014. Do not round your calculat..
Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q. What is the variable cost function? What is the average variable cost function? What is the average cost functio..
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