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How come when marginal revenue = marginal cost it maximizes profits in competitive markets? It seems that if marginal revenue was much higher than marginal cost that that would be the most profit earned for the firm.
determine what the tangible and intangible benefits are for a a computer b a tube of toothpaste and c a beauty salon.i
Does it make sense for a restaurant to offer early-bird specials and senior citizen discounts? Explain your answers in terms of the economic concepts of marginal revenue and marginal cost, as applicable.
Are global 1 trade2 patterns consistent with economic theory? How might democratic states avoid a 'protectionist backlash' against free trade
a) If the firm must charge the same price to both consumers, show that q1 = 400/3 and q2 = 200/3 and find the firm's profit b) Now assume the firm can perfectly price discriminate on a continuous level. Show that q1 = 200, q2 = 100, and that the fi..
A zoo contains a large number of different types of animal. All animals respond to a message 'talk()' by announcing what they are and their name and age. Each type of animal is represented by a different sub-class of the animal class.
Ethanol is an environmentally friendly, alcohol-based alternative fuel produced from corn and other crops that contain starches. Several states have passed legislation that requires gas stations to sell a mixture of gasoline and ethanol.
Create a diagram to explain your answer. On the same diagram, show what happens if a limit is imposed on the amount of a good that can be sold in the marketplace (e.g., shortages of rubber due to government controls such as tariffs on imports or i..
Explore how a firm determines the optimal scale of a plant for a given rate of output and why this determination relates to longer run strategies versus current operations. Also, discuss the differences between economies of scale and economies of ..
The problem is related to economics, mainly to macroeconomics and it is explains the Changes in currency supply and demand can be traced back to changes in fundamental supply and demand in foreign and domestic.
Write an essay about monopoly
Because bagels and cream cheese are often eaten together, they are complements. We observe that both the equilibrium price of cream cheese and the equilibrium quantity of bagels have risen.
Should the changes effects of a decrease in money supply to market interest rate be of any concern for firms and business owners? Explain.
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