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Now suppose the economy currently produces 2,500 garments of clothing and 3,000 bushels of wheat, which is represented by point B. Under these conditions, the opportunity cost of producing an additional 1,000 garments of clothing (that is, moving to point C) is:
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost.
A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve if both in home construction.
For every of the subsequent goods, indicate whether you expect demand to be inelastic or elastic also explain your reasoning
Analyze the impact of this floor on price, quantity demanded and supplied. Would this price floor create a surplus or deficit of this product in the market?
What is the solution for the manager of Collinis Import Autos believes the number of cars sold in a day (Q)depends on two factors.
Describe the free trade equilibrium. Then compute and graph the following effects of an import quota that limits imports to 100 bags.
Explain how does the government decide to use one form of remedy rather than the other.
Illustrate would be its profit-maximizing cost if the company were to build the bridge.
The purposes of assessing the consequences of these provisions for strategic decision making.
its marginal costs are below total average costs. If it creates an additional watch where its average total costs rise -fall or stay the same.
What plant size will the firm choose in producing. Draw the firm's long-run average-cost curve on the diagram and define this curve.
Calculate the after-tax nominal interest rate, then subtract off inflation to get the after-tax real interest rate for both cases.
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