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COST OF PRODUCTION QUESTIONS
The purpose of this exercise is to give you an opportunity to do some "critical thinking" about the material you have studied
Step 1: Answer the questions in a word document using the economic language you have learned in this and previous chapters
If your name begins with A-G answer the following questions:
A. In economics, what is the distinction between the short-run and long-run? Do these refer to specific time periods of actual time?
The following information describes a hypothetical economy (assume all numbers are in billion if necessary) Determine the value of the MPC of this economy?
Describe the strengths and weaknesses that you see in these economies based on these variables. Write 1 to 3 paragraphs of analysis total (100 to 300 words). What conclusions can you draw from your analysis? Write a minimum of 3 paragraphs (300 words..
rate of technological change also innovation has increased substantially. Discuss how these changes are likely to affect your firm's optimal bundling of tasks into jobs and subunits.
Find the velocity given that the market is in equilibrium. MD1 is the relevant curve and it is given that the real GDP is 30,000.
Your book describes the increase in the money supply as being analogous to giving people more money. If the output of goods and services is not growing at a similar rate, inflation will eventually occur. According to PPP Theory, what will happen t..
suppose fred deposits 8000 in cash into his checking account at the bank of bonzo. the bank of bonzo has no excess
A state highway department is trying to decide whether it should"hot-patch" a short section of an existing county road or resurfaceit. If the hot-patch method method is used, approximately 300cubic metres of material would be required
Describe the opportunity cost of good 1 in terms of good 2. Find out the opportunity cost of good 1 at the point where x1=1.
If Ron is lazy, he will surf the Internet all day, and he views this as a zero cost opportunity. However, Ron would view working hard as a "personal cost" valued at $1000. What fixed percentage of the profits should you offer Ron? Assume Ron ca..
changes in government spending and interest rates. government spending is given by the equationsrecall that current
Determine which of the following statements regarding Gross Domestic Product is not true?
The problem is related to economics, mainly to macroeconomics and it is explains the Changes in currency supply and demand can be traced back to changes in fundamental supply and demand in foreign and domestic.
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