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Suppose q= AK1/3L2/3, w = 5 and v = 3.
A) Find the long run total cost curve if A = 1
B) What happens to the total costs if A = 2 instead? Explain.
Contingency Plan 1 is a new process introduced by an international health team that guarantees the removal of pathogenic microorganisms in the town’s water system. Evidence has revealed that Contingency Plan 1 will lower the influenza rate to four ne..
As a member of the Board of Directors of General Motors Corporation, you are continually concerned about the level of productivity of the company's work force. What can management do to create enhanced productivity levels in order to maintain a profi..
In preparation for membership in the European Monetary Union (EMU), countries had to participate for 2 years in the European Monetary System (EMS). Italy at that time had a fixed exchange rate against the DM, but a floating rate against the dollar. W..
Explain how a dead weight loss can be generated in an imperfect market and also in a case of a negative externality. What policies government can use to try to eliminate the deadweight loss? Effect of Price Ceiling and a Price Floor-Price Floors and ..
Suppose that there is asymmetric information in the market for used cars. Sellers know the quality of the car that they are ?selling but buyers do not. Buyers know that there is a 5050?% chance of getting a? "lemon", a low quality used car. A high qu..
Write a short essay (about 25 words) on the opportunities and challenges of international marketing - List and explain four factors that determine market characteristics - Explain the following terms IN YOUR OWN WORDS o Political Risk o Gray market o..
Remember that the best statement of the issue will... Highlight the tension between two competing values. Focus on whether the outcome would help everyone achieve their highest ethical goals instead of just taking care of yourself. How to ensure envi..
You are the manager of a 24-hour copy shop that is closed on Sundays. You lease a building for $2,000 per month and hire three employees who each work eight-hour shifts at a wage of $10.00 per hour (each works a total of 40 hours per week). Are there..
In 1947 in the United States, nominal GDP was $237 billion and real GDP was $1,771 billion in 2005 dollars. In 2011, nominal GDP was $14,869 billion and real GDP was $13,228 billion (also in 2005 dollars). What were the annual average growth rates of..
Taxicab companies in the US typically own the cab and license. Taxicab drivers then pay a daily fee (rent) to the owner, and then keep all the fares they collect. By contrast, bus drivers are paid a salary for driving a bus. Why are cab drivers and b..
When price of gasoline increases significantly, why should the market price of small automobiles (e.g. Mini Cooper, Smart Car, etc.) also increase? In addition to showing the demand-supply graphs, also explain the reasons for any shift in supply and/..
Which of the following is NOT an outcome of a decline in the business cycle?
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