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In the automotive industry is price elasticity of demand considered elastic or inelastic? Please explain with your own words.
If a firm had decreasing returns to scale and at all levels of output and it divided up into 2 equal- size smaller firms, what would happen to its overall profits?
a firm has cost functioncy y2 1 if y gt 00 if y 0let p be the price of output.1 if p 2 how much will
Suppose the government institutes a new sales tax on shoes, which are produced by a competitive constant-cost industry. a. Does the price of shoes change by more in the short run or in the long run b. Does the industry-wide quantity change by more in..
Illustrate what is the expected interest rate that will be charged by a bank that cannot exactly distinguish.
Which of the following is a central issue in macroeconomics? Which of the following is NOT true in the very short run? Which of the following does NOT affect the trend path of GDP over time?
Briefly discuss the concept of both positive and negative externalities and give specific examples of each. In your explanations of the two, cover the differences, discuss why property rights are an important variable, and discuss any other releva..
Illustrate equations for total income also marginal income (interm of Q). what will be the total revenue at price of $ 70? what will be marginal revenue.
Appalachia Beverage Corporation, is planning alternative proposals for expansion into the Midwest. Suppose that a wholesale price of $5 per case, compute the breakeven output quantities for each alternative.
question 1 a. computetheemploymentrateandthelevelofproductivitygdpperemployedworkerforeachyearshowninthetableabove.b.
Would warehouse operators insist on owning their own trucking companies Why or why not What coordination and control problems and contractual hazards would these companies encounter What organizational form would warehouse operators
Consider the idealized cycle of health information in evidence-based medicine where database systems offer information sharing service for doctors, medical researchers, medical institutions, and patients.
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following What two policies could you use to reduce the total amount of emissions
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