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1. Explain how the long run differs from the short run in pure competition.
2. Explain how the entry and exit of firms affects resource flows and long-run profits and losses.
1. Explain why economic costs include both explicit costs and implicit costs.
2. Explain the concept of opportunity cost as related to the doctor in the Khan Academy video who gave up his profession to open a business.
3. What other factors do you think the doctor may have considered when he decided to leave his profession to open a business?
A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find out that consumers won't buy it because they don't like the taste. From an economic prespective, the company should?
You are the Benefits Manager for ABC Corporation. The company has grown considerably from a small family-owned business. It has never had a paid vacation policy in the past, and you need to establish one.
Two key sources of economic growth have been due to increases in resources and increases in productivity. What factors will contribute to falling U.S. GDP growth rates into the future, and how would that impact you?
Select a market for a product or service, then identify at least one critical determinant of demand or supply in that selected market and forecast a reasonable future change in the determinant. Explain the changes in equilibrium price and quantity yo..
Compare and contrast a public good versus a private good. What are the principal characteristics of each? What are the two key characteristics of public goods? Is there a free rider problem when it comes to public goods? Why? Do you consider your loc..
q1. the wage rate is pound5 and the rental rate cost of capital is pound2. calculate the lowest cost method of making 4
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
Illustrate what does this imply about the effectiveness of monetary and fiscal policy to reduce the unemployment rate.
Explain rational expectations in your own words. Using the rational expectations model is the U.S. stock market efficient? Why or Why not?
How can a small special-interest group win, since the benefits flow only to a small group, under a situation of majority voting?
q1. a. why does an exporter face a foreign exchange risk? how can the exporter hedge its foreign exchange risk?b. what
q.the total demand as well as for money is equal to the transactions demand as well as plus the asset demand as well as
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