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A profit -maximizing ompetitive firms sells its product for $9 Its average total cost of producing this product is $10. The firm's profit maximizing output level is 10 units. How much total profit does this firm earn?
a. What were the main causes for the financial crisis that hit the world economy in 2007- 2008 b. What caused the European debt crisis Brieáy discuss the situations in Greece, Ireland, Spain and Portugal - what are the main problems in these econo..
A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened? what specific factors might have accounted for this event?
Why is an increase in the number of varieties of a good regarded as a gain from trade? Can you think of economic disadvantages associated with greater product variety? Explain. Is the distinction between "intra-industry trade" and "inter industry t..
You are manager of College Computers, a manufacture of customized computers that meet the specifications required by the local university. College computer is not the only firm that builds the computer to meet the university's specification.
In an effort to reduce their total costs, many companies are now replacing paychecks with payroll cards, which are stored-value cards onto which the companies can download employees' wages and salaries electronically.
If the average person drinks two bottles of water per day or uses 5 gallons per day in getting that amount of water from the tap. what are the present worth values of drinking botled water or tap water per person for 1 year.
A normal good is being produced in a constant-cost, perfectly competitive industry. Initially, each firm is in long-run equilibrium. Briefly explain the short-run adjustments for the market and the firm to a decrease in consumer incomes.
You've entered into a contract to purchase a new house, and the closing is scheduled for next week. It's typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees. You have three options f..
One of the important points of week one is scarcity and it applies to resources. What are resources Give some examples of the resources that you have at your disposal and how you use those resources. What makes them scarce
You were recently hired to replace the manager of the Roller Division at a major conveyor-manufacturing firm, despite the manager's strong external sales record. Roller manufacturing is relatively simple, requiring only labor and a machine that cu..
Compute the real interest rate for this time period. If (nominal) interest payments are taxed at a rate of 30%, what is the after-tax real interest rate?
How are gifts and grants handled in the balance of payments? What does it mean for a country to experience a capital inflow? Is this associated with a surplus or a deficit on the country's capital account?
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