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Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns. For this range of output, the firm is experiencing a. constant returns to scale. b. economies of scale. c. diseconomies of scale. d. specialization.
In a post of between 150 and 250 words, respond to the following discussion: First, start with a very brief summary of the origins of sociology as a field of study discussed in Chapter 1. Now, consider the sociologists discussed in your textbook on p..
During the month, there are 26 workdays. The company has 15 workers.
Hypothesize the basic short-run also long-run behaviors of the model in the industry you have chosen in a "marketplace economy."
Manufacturers begin building a new plant in Arizona. Which determinant of cumulative demand causes the change.
If a nonbinding price floor is imposed on a market, then:
11.assume you are the director of design for a cell phone manufacturing company. you work closely with the new product
Barney’s snow removal service is a profit-maximizing, competitive firm. Barney clears driveways for $10 each. His total cost each day is $250, and half of his total costs are fixed. If Barney clears 20 driveways a day, should Barney operate or shut d..
Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. a. How do you know that the industry is in long run equilibrium? b. Suppose that there is an increase in demand for this product. What will happen to the number of..
Consider the market for taxi service in Washington, DC. Use demand-supply analysis to explain the effects (i.e., increase or decrease) on the equilibrium price and quantity from the following (considers each case separately; and assumes that only one..
Assume that the price of smart phones increased from $420 to $444 per unit. The manufacturer decides to supply 15,000 units instead of 12,000. Calculate the price elasticity of supply.
A public university wants to apply the concept of the WACC to developing its interest rate for analyzing capital projects. It has an endowment of $68 million which is earning 6.3% interest. It is paying 4.5% interest on $29 million in bonds. It belie..
What is the balance due on the original mortgage if 20 payments have been made in the last 5 years?
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