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Diagram the total product, marginal product and average product functions showing the division points between stages I, II and III of the production process. How do these stages of production relate to isoquants.
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
Graph Jay's budget constraint when her income is 50, and the price of housing and food is 2 and 10 respectively. What happens to her budget constraint when M increases?
Using such areas as producing and information technology or any related industry or areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
Describe the phenomenon of market foreclosure. Specifically, describe how a vertical merger may "substantially lessen competition or tend to create a monopoly" through virtue of market foreclosure.
Compute the expected market price. Show calculations please. How many units should you produce to maximize expected profits? What is your expected profit or loss? Again, show work.
Give an example of a decision that is rational ex-ante but irrational ex-post. Under what conditions will this ratonality be different and under what conditions will the rationality (ex-ante and ex-post) be the same?
A firm in a perfectly competitive industry is making losses in the short run. (i) Sketch a ‘typical' firm's Average Cost and Marginal Cost curves and in the diagram show a possible price at which the firm would produce in the short run, but make l..
Amityville has a competitive chocolate industry with supply curve Ps =440+Q. While market demand for chocolate is Pd=1200-Q, there are external profits that the citizens of Amityville derive from having
A small town is served by many competing supermarkets, which have constant marginal cost. Using the diagram of market for groceries, show the consumer surplus, producer surplus, and total surplus.
Why did president Obama want to repeal the Bush era tax cuts on upper income taxpayers How would the repeal of these tax cuts impact aggregate demand and to what degree? How did the economic conditions in 2010 make such a repeal less likely to tak..
How much should the retailer set the camera price at in order to maximize his own profit and what is the most logical explanation to what may have happened assuming that both companies kept doing business afterwards as usual?
One year ago, you bought a bond for $10,000.00. You received interest of $400.00 at the end of the year, as well as your $10,000.00 principal calculate the real return.
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