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1. In a perfectly competitive factor market, a firm finds that the marginal factor cost of a factor of production is:
A) greater than its price.
B) less than its price.
C) equal to its price.
D) unrelated to its price.
2. The price paid by a firm for a factor of production in a perfectly competitive market:
A) increases with the quantity of input demanded.
B) decreases with the quantity of input demanded.
C) is equal to the market price of the factor.
D) is less than the market price of the factor.
He is going to travel the world this summer and won't be working. How much must be set aside in his savings account for the 3-month summer to cover his rent for next year? The savings account earns 3% with monthly compounding.
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Determine the conditions that may exist for a manager of this good or service may decide to move forward with operations even with the initial costs of operations is more than the potential revenue.
In the 21st century Explain how has globalization affected trade restrictions also the development of common markets
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It is estimated that the annual sales of an energy saving device will be 20,000 the first year and increase by 10,000 per year until 50,000 units are sold during the fourth year. Proposal A is to purchase manufacturing equipment costing $120,000 with..
Elucidate what is an economic system in which economic decisions are controlled by the internal interaction of suppy and demand.
The success of the apple ipad leads more firms to begin producing tablet computers. In the six months following the japanese earthquake and tsunami in 2011, production of automobiles in japan declined by 20 percent.
The profit in dollars from the sale of x expensive watches is Px=0.03x2?3x+2x0.3?5000. Find the marginal profit when (a) x=300, (b) x=2000, (c) x=5000, and (d) x=10,000.
If expected inflation is constant and the nominal interest rate increased 5 percentage points, what would happen to the real interest rate?
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