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If marginal cost is below average variable cost:
A. Average total cost is increasing but average variable cost is decreasing
B. Both average total cost and average variable cost are decreasing
C. Both average total cost and average variable cost are increasing
D. Average variable cost is less than average fixed cost
Suppose the original demand for labor equation is given by W=12-0.5L and the original labor supply equation is given by W=L. Suppose that health insurance costs $2 per worker. Please write down the new equations for the demand and supply graphs once ..
Illustrate what is James' opportunity cost of producing chickens. Which person has an absolute advantage in which activities.
Lauren's salary decreases from $34,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 20 to 19. Use the midpoint method to calculate the income elasticity of demand for new outfits.
Woody's utility function is U(C, R)= C- (12-R)^2, where C is his consumption and R is the amount of leisure he has per day. He has 16 hours a day to divide between work and leisure. He has an income of 20$ a day from non-labour sources. If Woody can ..
What impact would a rise in consumer income have on the demand for cars?
Analyze and comment on economic analyses of health administrative innovations that are germane to the provision of health services. How have these innovations become more important in health care delivery within the context of the Affordable Care ..
Changes in the federal funds interest rate often lead to similar changes in the prime interest rate
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs: QUS = 300,000 - 4,000*PUS and QX = 240,000 - 7,000*PX where quantities represent the number of prescriptions. Estimate the profit..
Using graphical analysis for demand and supply, please show in two graphs how an improvement in the technology (such as using artificial intelligence programs for diagnosis/interpretations) would affect the healthcare market, an increase in mergers a..
Illustrate what would be new equilibrium if re is an increase in autonomous import expenditure from 100 to 200 which result from an increase in currency exchange rate.
In the United States, the Federal Reserve frequently engages in buying and selling of the government securities as well as other policies. In recent years, the Fed has reduced the Discount Rate several times. The Fed has also purchased substantial am..
Electric Company is considering the purchase of a hillside ranch for possible use as a windmill farm sometime in the future. The owner of the 500-acre ranch will sell for $3,000 per acre if the company will pay her in two payments - one payment now a..
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