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For a typical competitive firm, the price in the long run equilibrium will tend to:
a. be greater than average cost
b. be equal to average cost
c. be less than average cost
d. intermediate
Calculate the elasticity of demand for good X with respect to advertising on good X. Interpret your answer. Can you tell whether the firm is spending too much or too little on advertising?
As an economist you have been tasked to address a meeting of a company on international professional to describe the differences between micoeconomics and maroeconomic and give real world example.
hat kind of demand does walmart's products have? Does it vary by season? What market segment does Walmart target?
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Suppose that Apple must pay a royalty on each mobile device that it produces. How should Apple adjust its production and price in response to the royalty?
Illustrate with a diagram and explain the short-run perfectively competitive equilibrium for both (i) the individual firm and (ii) the industry
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
The demand and supply curves for T-shirts in LA, Ca, are given through the following equations, Determine the equilibrium price and quantity after the shift of the demand curve.
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
Discuss, using examples and academic references, the statement that perfect competition gives an optimal allocation of resources but that the existence of scale economies may make perfect competition impossible.
Build a Balanced Scorecard for unit of the comapny for which you work. Identify the strategic objectives of the entire company and the secondary objectives for the unit.
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