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Question about Variable costs
A firm has Total Costs (TC) of $10,000 over the next three months (TOTAL for the 3 months - not per month), of which $6,000 are fixed costs (TFC) for rent on its lease that cannot be broken. If it stays in business over those months, then the firm will collect only $5,000 in revenues (TR). So, considering only this information, should they stay in business for those three months, or should they close down right now? Provide the reasoning.
At level of inflation explain how long does it take for the price level to double.
Demonstrate that removing the subsidy will make consumers worse off but will nevertheless improve society's economic welfare.
Describe the law of diminishing returns. Then discuss why you agree or disagree with following statements.
Lerner Index to compute your price mark-up. What is your optimal price if you produce 1000 units.
Explain why this strategy may, in fact, be rational. Also, identify at least two other strategies that might permit Argyle to earn higher profits.
Explain how did Lucas contribute to the development of the Keynesian economics. What was his concern with economic growth and development.
Explain how do high inflation rates affect the exchange rate of a country in the short and the long run.
Provide two terms which you have heard in the mass media, political arena, or in any other venue.
When McDonald's Corp. reduced the price of its Big Mac by 75 percent if customers also purchased-Using your knowledge of game theory, what do you thank disrupted McDonald's plans?
You are the administrator of hospital and situation has been brought to your attention.
You are the manager of a firm that manufacturers front and rear windshields for the automobile industry. Due to economies of scale in the industry
Explain how would you classify the product in terms of it's income elasticity.
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