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If a representative company with long run total cost given through TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given through QD = 1,500 - 40P,
listed below are your new job requirements and at least one task for each.1 your role as an accountant prepare a job
What is the law of diminishing marginal productivity? How does it differ from average productivity?
Mick and Kelly are deciding how to split their time between writing music and lyrics for their new album. Their PPFs for 72 hours of work are shown below. . Mick and Kelly have to write music for 8 songs and lyrics for 12 songs (4 songs already h..
Problem 1 Assume that the price of smartphones increased from $420 to $444 per unit. The manufacturer decides to supply 15,000 units instead of 12,000. Calculate the price elasticity of supply. Is supply elastic or inelastic? Describe at least one fa..
suppose the price of widgets falls from 7 to 5 and consumption of widgets rises from 15 widgets a month to 25 widgets.
do you feel that the interest rate that is set by the federal reserve is too low?provide an argument why interest rates
problem 1. use okuns law to answer the questions belowutnbsp- ut-1nbsp -0.4gytnbsp- 3 assuming ut-1nbsp 7a. compute the
Identify some of the costs (pecuniary and no pecuniary) associated with the antitrust behaviour (firms having power in the market)
economists often study and evaluate economic policies by country or region. as an economist evaluate different regional
Write in words (or in mathematical symbols) the formula for the coefficient of price elasticity of demand. What are the numbers or ranges of numbers that correspond to (1) perfectly elastic demand; (2) elastic demand? Give a realistic example o..
Suppose Merck is developing new drugs that have positive externalities; the positive externality is a pharmaceutical technology we all benefit from. Let the supply curve for Merck’s production be P =Q/4, where Q is the number of units of drugs they’v..
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