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In economics, the term "shutdown point" refers to the point where the
a) marginal cost curve crosses the total revenue curve
b) marginal cost curve crosses the average variable cost curve
c) average variable cost curve crosses the marginal cost curve
d) average variable cost curve crosses the total revenue curve
Assume that the marginal product of labor is: MP=100-L, L is the number of workers hired. You can sell the product in the marketplace for $50 per unit, the wage rate for labor is $100. How many workers should I hire.
Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
Jake drove Amanda's truck to the football bowl game because his car was broken. On the way home, Jake was involved in an accident that was his fault. The resulting liability damages totaled $85,000. Jake has $100,000 liability coverage on his car, an..
Describe the profit-maximizing amounts of electricity to produce at the two facilities, the optimal price, and the utility company's profits.
What performance % would you use to trigger executive bonuses for that year.
Recently, the U.S. Supreme Court ruled that cities could have voucher programs that give money directly to parents, and the parents can then choose between competing schools: public and private. The idea for promoting such a ruling was to create comp..
Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource difference..
q. gains from trade will result if a country specializes ina. the goods in which it have a comparative advantage.b. all
“The money supply of an economy increases when the central bank simultaneously decreases the reserve requirement and sells government bonds in open market.” Explain whether this statement is true, false or uncertain. Explain what is the inflation tax..
Home and Foreign are two identical countries except that people in Home work twice as hard of those in Foreign. Each has two industries (Steel and Shoe industries), where steel production is capital intensive and shoe production is labor intensive. U..
Assume he takes welfare and does not work. Illustrate what is his reservation wage. He will not lose his welfare if he works.4. Suppose he is working and receives no welfare.
Suppose that the authorities had effectively prohibited price-gouging and somehow managed to ensure that their action had no effect on the quantity of ice in the area. What would have been the effect on social welfare?
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