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Use the concepts of economies and dis-economies of scale to explain the shape of a firm's long-run ATC curve. What is the concept of minimum efficient scale? What bearing can the shape of the long-run ATC curve have on the structure of an industry?
Describe how the system converges to its new equilibrium. What happens to the equilibrium wage in the long run? What happens to the equilibrium population size in the long run?
From the e-Activity, determine the environmental variable most likely to affect the short-run production over the next 12 months. Determine what managers can do to prepare for the possible change in short-run production.
Many cities have experienced a substantial decrease in the amount of garbage being collected after they changes from levying a tax on each household to pay for the pickup to charging a fee for each bag or can picked up.
CASE STUDY SCENARIO Allan’ s Fast Store is the only fast food in Duke Town and the factory workers purchase lunch there every day. Mr. Allan, the owner, had lowered the price, which caused an increase in demand. The relationship between TR and price ..
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
q1. jeremy derives all of his utility from consuming milk shakes he devotes hi entire 20 allowance to milk shakes each
What make both the farmer and the rancher willing to trade with one another.
How does Supply and Demand play a role in economic thinking? What factors influence economics that don't directly relate to it? How does public choice economics influence the market?
Dirt Diggers (DD) is a firm that excavates roadside ditches to lay drainpipe. Its output follows the production function: Q = 10L − 0.1L 2 , where L denotes labor hours and Q the length of the ditch in meters. The marginal product of labor is MPL = 1..
When your income goes up to $50,000 from $40,000, demand for Scotch Whiskey increases from 500 to 600. Calculate income elasticity of demand.
Discuss some of the reasons why individuals routinely over-estimate the time for project activities. How is this behavior detrimental to the schedule and project?
what is gross private domestic investment spending. what happens when there is an increase in foreign imports. what happens with an increase in the price of labor. characteristics of a perfectly competitive market. what are large denomination time de..
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