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Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which long-run average cost is constant: finally, at very high output, there are diseconomies of scale.1. Draw a representative long-run average cost curve, and indicate the minimum efficient scale2. Would you expect that firms in an industry like this would all produce about the same level of output? why?
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
Amazon's "autobot" recommended a book to an economist titled Quality maintenance: Zero Defects through Equipment Management. The book's description is "Achieve zero-defect product quality by eliminating the root causes of your equipment defects
Describe how market structure affects market performance and conduct. Recognize three types of government regulation that aid to enhance market performance
Should the monopolist advertise? If so what will happen to the price and who will each pay up to $8.00. Neither are willing to purchase additional units at any price
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
If leisure is a normal good, the Laffer Curve can have an inverted U-shape only if leisure and consumption are (at least at some point) sufficiently substitutable such that the substitution effect (on leisure) outweighs the wealth effect (on leisu..
1. What would be true of entitlement spending rose to 100 percent and the federal budget was balanced? (Hint: Under a balanced budget, tax revenues equal the sum of discretionary expenditures.) 2.How would entitlement spending be funded if ta..
The federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.
Suppose you are to specify a short-run total variable cost function for a nursing home. Explain the variables you would include in the function.
You are given the data below for 2008 for the imaginary country of Amagre, whose currency is the G. Consumption 350 billion G Transfer payments 100 billion G Investment 100 billion G Government purchases 200 billion G Exports 50 billion G Imports 15..
What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed. Te money supply is increased by 100 while government spending reduced by 250:
A. Assume that ? = 1. What is the real interest rate, equilibrium level of output, consumption, planned investment, and net exports? B. Suppose the Fed increases r' to r' = 2. Calculate what happens to the real interest rate, equilibrium level of ..
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