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If a firm faces consumers who are very sensitive to prices,
(a) the firm will have less market power.
(b) the firm will have higher profits.
(c) average total costs will be decreasing.
(d) None of the above.
What is the unemployment rate among the 500 surveyed people? Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
England can produce 50 units of wine if it produces no cloth, and 100 units of cloth if it produces no wine. Using this information, we can conclude that.
Assuming the most typical shapes of the demand and supply curves, which of the following could lead to an increase in the current equilibrium price for personal computers?
Does the concept of technological efficiency permit us to determine at which point on an isoquant a firm should operate.
What is the effective interest rate of an investment if the nominal annual interest rate is 4.67% and it is compounded semi-annually? Express your answer as a percent to two decimal places.
What curve would be shifted (demand or supply) and in what direction (left or right) if there was a decrease in the tax rate or interest income from 20% to 15%?
In the short-run, if a firm has decreasing returns, does it have increasing, constant, or decreasing marginal cost? Explain. What about if it has constant returns? Increasing returns? Explain.
When a society under allocates resources to the construction of a good or service, it indicates
Find out the total nominal money stock as measured by the Federal Reserve's definition of M1. What will happen to each of your answers to part a to e.
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
Could the Fed affect the money supply by buying and selling goods or services other than bonds? For example, suppose the Fed decided to implement an expansionary policy.
q1. you have 2000 to spend on entertainment this year. the price of a day trip t is 40 and the price of pizza and a
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