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Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to:
a. shift right.
b. shift left.
c. become flatter.
d. remain unchanged.
Do you believe that profit (or shareholders wealth) maximization still represents the best overall economic objective for today's corporations.
The production function is Q = L^0.25*K^0.25 and the respective unit input prices for L and K are w=4 and r=9. Derive the long-run least cost as a function of Q, and derive the marginal cost and average cost to characterize the shape of the total ..
If $80 is charged for a design fee, and the monthly studio rent is 1,600; write an equation for the profit, P, in terms of x. Then how much is the profit when 50 award designs are sold in a month? How many award designs must be sold in order to maxim..
What is the resulting deadweight loss relative to the competitive outcome. Compute the Lerner Index for the monopoly described in the question above.
A movie monopolist sells to college students and other adults. The demand function for students is QdS = 800 100P and the demand function for other adults is QdA = 1800 100P. Marginal cost is $2 per ticket. What prices will the monopolist set when sh..
Why might some firms voluntarily pay workers a wage above the market equilibrium? Which of the following government policies would lead to an increase in productivity?
Which of the five characteristics listed in the text for human service professionals do you think is most important? Explain why.
If there is no tariff, explain how much does customer pay for a pound of coffee. Illustrate what is the quantity demanded.
Examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings. In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact ..
Which pizza-baking oven would you select and why? State any important assumptions you make in your analysis.
Projects A requires an initial outlay of $1000 and yields $41200 in 4 year's time. Project B requires an outlay of $30 000 and yields $35 000, after 4 years. Which of these projects would you choose to invest in when market rate is 3 percent."
Excise tax is collected from fishermen, who protest that y alone are bearing burden of this policy. Why might this protest be misguided.
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