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A competitive firm will maximize profit by producing the level of output at which: Select one: a. None of the answers are correct. b. marginal cost equals marginal revenue. c. the firm's total revenue equals total cost. d. the additional revenue from the last unit of output produced exceeds the additional cost of the last unit by the largest amount.
Explain as completely as you can (IN YOUR OWN WORDS) what an economist means by demand (supply) and discuss (this implies that you are able to discuss why the factor causes the shift and explain the direction of the shift. How does a change in demand..
Use at least three sources, two of which must be scholarly sources (peer reviewed studies or journal articles) from the West library.Format your paper according to the West Writing Style Guidelines, the West Citation and Reference Generator tool f..
What would be the resulting effect on equilibrium price level? Explain. What will be the effect of the different tools of fiscal policy to stabilize the economy?
Calculate (to one decimal place) the unemployment rate, the employment-to-population ratio, and the labor force participation rate. In addition, please calculate what the unemployment rate would have been if individuals who were involuntarily employe..
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
You have a gross income of $355636 in 2014. Your filing status is single. You do not itemize deductions and you are allowed 1 exemption. What is your federal tax bill, assuming phase out of personal exemptions based on income?
Economics is best described as the, A 5 percent increase in income leads to a 10 percent decrease in quantity demanded for a service. This service is a(n) __________ good and demand is __________.
learned some of the basic principles of organization, pause and think of where you have already applied such concepts yourself
What are the likely effects of market growth and depreciation on the effectiveness of investments in capacity to deter entry?
q.you are the ceo of abc neosho missouri. you manufacture both wood and upholstery products and have yearly sales in
If the price of food falls by 10 percent and the quantity sold increases by 5 percent, then the price elasticity of demand in that range equals
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
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