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Americans already enjoy living standards that far exceed world averages. How is the US able to produce so much with only 5% of the worlds arable land and 12% of the population? Describe at least three factors that impact US productivity. Economics
If a firm starts small and, over time, builds successively larger plant sizes or adds additional work space in an office, average total costs are most likely to
Hershey Park sells tickets at the gate and at local municipal offices. There are two groups of people. Suppose that the demand function for people who purchase tickets at the gate is QG = 10,000 – 100pG and that demand function for people who purchas..
At a separating perfect Bayes-Nash equilibrium, what is the maximum amount of advertising that a restaurant conducts. What is the minimum amount.
International businesses frequently face sourcing decisions and decisions about whether they should make or buy the component parts that go into their final products. Should the firm vertically integrate into the manufacturing of its own component pa..
Assume that a nation’s marginal propensity to consume is 0.8, and that its potential GDP exceeds its actual real GDP by $3000 (There is a recessionary gap). By how much should that nations’ government initially change its spending (G) in order to clo..
If free trade increases a domestic firm’s access to the global market place such that it can double all factors of production and realize a threefold increase in output, what happens to its average unit costs and its ability to compete in the global ..
Suppose a perfectly competitive firm sees that price is $23 in the market place. It notices that the cost of producing the next unit of output is $26. What advice would you give to this firm? Explain your answer.
q1. does a merger create any new value that wasnt there before? or is the merger done to lower afc and so atc? can we
What is the Law of Supply? How do we illustrate the Law of Supply? Give an example of the Law of Supply use two to four sentences to explain your example. Indicate whether the following are considered a change in supply or a change in quantity suppli..
What is the "purchasing power parity" theory of exchange rates? If the price of a representative bundle of tradable goods is currently $5000 in the U.S. and 550000 yen in Japan, is the $ undervalued or overvalued when the exchange rate is 90 yen per ..
What's the point of creating new bills with more security measures to prevent counterfeiting? If the old bills are still acceptable as currency, why would anyone even try to counterfeit new banknotes with all these security features?
The practice of Canadian firms dumping their products in Sweden poses a problem for economic policymakers since dumping tends to: If import licenses are auctioned off to domestic importers in a competitive market, their scarcity value (revenue effec..
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