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"If it were not for the law of diminishing returns, a firm's average cost and average variable cost would not increase in the short run." Do you agree? Explain.
1. according to the economic way of thinking why does cheaper used textbooks raise enrollment at csulb?a. cheaper used
"Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems." Do you agree with the above statement
Paradox Dental, Limited., enjoys a local monopoly in provision of oral examination services in Tuskegee, Alabama. Total and marginal revenue relations for standard procedure are:
What measures the fed should take to decrease the unemployment value and expand the economy. Remember that the answer has to deal with monetary policy,
A decision maker wishe to minimize the cost of producing a given level of total benefit, B = 288. The cost function is C = 6x + 3y and the total benefit is B = xy. Set up the Lagrangian adn then determine the levels of x and y at the minimum level of..
assume that joe derives utility based on the following utility function uxy x10.6 x20.610.6if joes income is 5040 a
Assume that Microsoft is considering a merger. The possible merger faces some threats and that the industry desides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expa..
What is the effect on the aggregate demand curve of the increase in government purchases? What occurs when real GDP exceeds potential GDP? What curve shifts in order to restore real GDP to potential GDP? Why does this curve shift?
If Joe's income is $5,040 a month, and the price of goods X1 and X2 are $45 and $5 respectively, derive the following: A) The quantity of X1 and X2 that maximize Joe's utility B) The maximum level of utility Joe receives.
Aztec depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising-What is Aztec's elasticity of demand for advertising?
Suppose that ranchers can buy up to a collective total of 200 cows and run them on the open range. The value of each cow after it has grazed is given by V= $2000-10C, where C is the total number of cows on the range.
An economist's use of the term "rent" differs from everyday usage in that in the economist's understanding, economic rent is the price paid for the use of all resources that are completely variable in supply. includes any security deposit that mus..
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