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a) Explain why a short run average cost curve only touches the long run average cost curve at one point on the long run average curve. b) Define clearly the concept of returns to scale.c)What are the two causes of the region of economics of scale for a long run average cost curve.
Discuss and explain the concept of the macro economy. Determine the major performance goals that we set for the economy, and how do we measure the performance?
Explain why is it that for sellers in a purely competitive marketplace, the price received for each item equals the marginal revenue.
Advances in telecommunications and information technology revolutionize the way Ms. Aura does business. She begins to use the Internet to nd all relevant information about clients and meets many clients through teleconferencing. The new technol..
How many "spells" of unemployment occur each year in this economy? What percentage of the "spells" are only one month long?
Smokey's Garage, Inc., provides routine auto diagnostics for customers in the Atlanta metropolitan area. Tests are supervised by skilled mechanics using equipment produced by two leading competitors in the auto test equipment industry. Records f..
When planning the process of preparing a bank reconciliation it is noted that under normal circumstances only one section of the examine may generate additional entries on the books of the account holder.
What legal remedy does Sussie have and clare is Max's wife, but after marriage difficulties they have recently separated. Clare has just received a letter from Zio stating that her services are no longer required.
If Ron is lazy, he will surf the Internet all day, and he views this as a zero cost opportunity. However, Ron would view working hard as a "personal cost" valued at $1000. What fixed percentage of the profits should you offer Ron? Assume Ron ca..
Elucidate the effectiveness of these staffing practices and selection tools in meeting current and future employment needs of the organization.
Elucidate marginal utility explains a lot about human behaviour.
Determine what did classical economists suppose about flexibility of values, wages, and interest rates and what disagreements did Keynes have with classical economists?
Write the equations for the IS and LM schedules. Find the equilibrium values for Y and r. Now assume the same figures as above but with a completely interest inelastic Investment (I). Write the new equations for the IS and LM schedules. Find the new ..
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