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1. Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related
2. Explain how sellers' costs, producer surplus, and the supply curve are related.
Suppose that your production facility can only produce 1,000,000 pills per year. Illustrate what is your optimal price and quantity given the production constraint.
illustrate the effect of capital formation by comparing the product posibility curves,at the present time and ten years in the future for two economies,one with a high and the other with a lowrate of capital formation.
Provide examples of different tools businesses use to identify the elasticity of their different customers. Also elucidate how the financial aid department determines student elasticity.
Explain four macroeconomics objective from conventional perspective
Government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken thro..
Ruth decides to open a Doggie sweater company. It costs her approximately $5 in wool costs, and she pays $3 in labour costs to her knitting ladies. Their group meets at a hall which costs approximately $50 for rent.
In a monopolistically competitive market, the rule for maximizing profit is to set MR=MC, which means. Perfect competition displays________________________ because the social benefits of additional production, as measured by the price that people are..
application barriers to entry and product homogeneity and their effectsbarriers to entry are forces that inhibit firms
what are the risk in management when you don''t have a fix plan of what you want o accomplish?
How much of each good does Alice buy as well as how much does she work.
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
The Short Run Total Cost of a firm is given by C= 190 + 53 Q. Find out the firm's total fixed cost. Find out the firm's total variable cost. Find out the firm's short run marginal cost.
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