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Q1. Assume that with 400 patients per year, the SAFC (short-run average fixed costs), SATC (short-run total costs) and SMC(short-run marginal costs) of operating a physician clinic are $10, $35, and $30 per patient, respectively. Furthermore, Assume the physician decides to increase the annual patient load by one more patient. Using short-run cost theory, elucidate the impact of this additional patient on the SAVC and SATC. Do they increase or decrease? Why?
Q2. Explain how do acts of intellectual piracy hurt American companies?
What would happen to the amount of economic investment made today if firms expected the future returns to such investment to be very low.
An open economy with a fixed exchange rate follow a money growth rule successfully if capital moved freely across its borders..
If she neither borrows nor lends, which project has the higher present value at the interest rate 50%. Which has the higher present value at an interest rate of 5%.
If Frank's salary as a sales manager was $70,000 instead of $100,000 would your answer be different.
Describe, using complete sentences, at least three specific features which your ideal bank would provide to you.
Consider that, in this case, we 1st add (marginal) costs, not quantities, since these are the costs associated with each t-shirt.
Determine the cost to the government of buying firms unsold units
If the nominal social discount rate is 7% and the rate of inflation is currently stable at 2 percent, should the city build either facility.
What point on the graph is most likely to result from the introduction of technological improvements in bicycle assembly, and successful publicity campaigns by the government on the virtues of bicycling to work.
Each firm can monitor the other's price very closely and can respond instantly
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
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