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Facial tissue is a rival good because:
A. there is a lot of competition in the facial tissue market.
B. it is a substitute good for a handkerchief.
C. one person’s use of a facial tissue reduces the ability of another person to use the same tissue.
D. it is made from natural resources.
What is the difference between the national debt and privately held federal debt? Why is the distenction between the two important?
Illustrate what is the maximum profit. Suppose that the fixed cost rises to $200,000. How would this affect the profit-maximizing price.
Which of these will still be needed when you move your company to PayMaster?
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The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. Write down the profit function of each firm. Suppose there..
All of the following statements apply to a purely competitive market in the long run, except: Which of the following is true of normal profits? The long-run supply curve would be perfectly elastic when: Which of the following statements about a compe..
If the economy was experiencing a severe recession, which of the following combinations of monetary and fiscal policy actions would be most appropriate? Many years ago, the traditional mortgage loan structure specified. The "interest-only" mortgage t..
Banks in New Transylvania have a desired reserve ratio of 10 percent of deposits and no excess reserves. Households want to keep 25% of their money as currency. Now suppose that the Central Bank increases the monetary base by $1,000 billion. How much..
Due to a recession, demand for housing market decreases. Will this shift labour supply curve, demand curve or both. How will this affect wages and number of workers in home construction.
AES was formed in 1996 and hired employees that year. At a meeting in 1997, they expressed concern to an executive that the company was not likely to survive as they used outdated equipment and worked long hours. The trial and appeals court agreed wi..
A business owner is trying to decide whether to buy, rent, or lease office space in an environment where the states of nature describe business conditions as either brisk or slow. The payoffs to the buy decision, with brisk listed first are 90 and -1..
What has happened to real GDP per person in the industrialized countries over the past century? What implications does this have for the average person?
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