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Answer each of the following question in one or two paragraphs.
1-Describe the difference between average revenue and marginal revenue .why are both of these revenue measures important to a profit-maximizing firm?
2-In the 1980s,the dangerous Ebola virus entered the united states through contaminated monkeys that were imported for use in medical experiments. Suppose that this virus hadn't been contained, and had spread to the general population. Describe the resulting effects on labor productivity.(Assume that the virus is lethal in half of the people who are exposed to it?
3-Describe the difference between marginal cost and average total cost. Why are both of these costs important to a profit-maximizing firm?
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX?
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
Charge of development for your housing nonprofit and assuming that your non-profit is risk-neutral, which grant should you apply for
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
Could it be possible that a government regulation led to flash crash and what does it mean "it's like a balloon"? What is like a balloon? Why is it like a balloon?
If the interest group theory applies to hospitals, explain why does not it also apply to nursing homes? Would a doctor owned, for profit hospital be as attractive to physicians as a nonprofit hospital?
Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? Describe your position on legalization.
The companies in the detergent market closely fit the mold of the monopolistic competitive firm. Research the company in this market and describe how it fits some of the characteristics of the monopolistic competitive firm.
A New Hampshire resort offers year-round activities: in winter, skiing and other activities to be cold; and in summer, golf, tennis and hiking. The costs of running resort are essentially the same in winter and summer.
What will be the immediate impact on wages in each of the regions in the short run (before any migration between the North and the South occurs)?
Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable cost. Calculate the price that you think will make the business break eve..
Recently, there has been a lot of press about high lead content in toys made in China. This negative press can affect the foreign exchange rate in the United States dollar and Chinese yuan.
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