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Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs. What would you do--shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling, the price of the product, the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total and average variable costs. Then go ahead and make your decision. Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
Draw the indifference curves map corresponding to welfare function (1) with the rate of unemployment on the horizontal axis and the inflation rate on the vertical axis.
Most nation are interdependent where trade is concern. We all depend on each other. Should America aim to be self sufficient in the production of goods and services, rather than depending on other countries for trade.
QuadPlex movie is the only movie theater in Idaho Falls. The nearest rival cenima theater.
If there are 150 million people in the labor force and 10 million of them do not have jobs but have looked for work in the last month what is the unemployment rate? 2)If next month 5 million people who have been discouraged workers start looking fo..
What would like you to do some research and find out what nation would be the most ideal markets for your new product.
Plain Truth Adverting employs KPR, a large accounting firm, to audit its books each year. This involves considerable expense for the advertising firm, since its sales account managers are very independent and maintain separate record keeping syste..
Assume the U.S. government determines that cigarette smoking creates social costs not reflected in the current price of cigarettes
What was the growth rate of nominal GDP between 1999 and 2000? (Note the growth rate is the percentage change from one period to the next).
Green sister has a dso of twenty days. The firm average daily sales are $20,000. What is the level of its accounts receivable? Suppose there are 365 days in a year.
Determine the conditions of perfect competition. Name each and describe with an example how the real markets can violate one of more of these conditions.
Discuss the specifics of any cases/examples you use and the implications of same on local citizens of that country.
Provide two terms which you have heard in the mass media, political arena, or in any other venue.
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