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Draw and explain the parts of a PPC. Draw a PPC for country Nambi and assume that the economy produces only computers and automobiles. Suppose now that there is a new technological breakthrough in the production of computers. How does this effect the shape of the PPC? Why?
Explain which bridges you would choose to attempt to use. (Assume you can put one foot on a bridge to see if it collapses before you attempt to cross.)
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
What market structure is used to benchmark allocative efficiency and why do we use it? Illustrate and explain using a diagram
In what particular ways (if any) does a college education increase a worker's productivity? Take some special care with this problem.
Define the term Consumer surplus, Gien good and Income elasticity of demand using graph and equation.
Suppose A and B choose the amount they spend on the school independently. What is the Nash equilibrium level of the school's quality in Little Society?
Night Timers Co. manufactures glow-in-the dark products in 10 ft. rolls. At present the company's maximum production capacity is 140,000 rolls per year. The cost is stated as: C= $50,000 + 0.25 Q.
Give a numerical example to show that a monopolist's marinal revenue can be upward-slping over prt of its range
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
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