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Which of the following is most likely to represent a fixed cost of a firm?
A) Rental cost of the factory space a firm uses.
B) Shipping charges for the delivery of products.
C) Electricity.
D) Expenditures on assembly-line labor.
Between October 1st and October 16th, 2013; the United States experienced partial Government Shutdown. In your view, what were the economic reasons that led to this shutdown? Is it likely for US to experience another shutdown in future?
If the last dollar spent on capital generated $1.05 in return while the last dollar spent on labor generated $0.99 in return, then in the long-run the firm should
leave the equilibrium quantity of labor input and real GDP unchanged. lower the equilibrium quantity of labor input and real GDP.
Which of the following would cause a change in supply, as opposed to a change in quantity supplied, in the market for used homes? 1. an increase in the number of buyers in the market for used homes 2. An increase in the income of home buyers. 3. A de..
What price-output combination would exist with efficient pricing (MC = P)? Draw a graph with MC, Demand curve and MR curves for the problem above.
Suppose there is an early freeze in California that reduces the size of the lemon crop. Elucidate what happens to consumer surplus in the market for lemons.
Critics argue that countries relying on primary exports will experience problems of fluctuating and declining terms of trade. Explain the theory and evidence behind these arguments, and how these problems can reduce the gains from primary export t..
Illustrate what were its consumption and government expenditures on goods and services.
Hulk goes to the gym 20 times a month. His income is $1000 per month and his visits to the gym cost $4 per visit. For simplicity, assume all other goods that Hulk consumes besides the gym costs $10 each. Assume Hulk exhibits diminishing marginal rate..
week 10 profit please respond to the following determine two to three 2-3 reasons why vectorcal may not always receive
According to our discussion of Uber in class, which of the following best describes the evidence of the impact of the surge-pricing strategy?
Suppose the price of good 1 is $2, and the price of good 2 is $1. Derive Pete’s demand function for good 1 (as a function of income). Is good 1 normal for Pete? How about good 2? Plot the Engel curve for goods 1 and 2 (with income on the horizontal a..
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