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Mrs. Smith operates a business in a competitive market. The current market price is $7.50. At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25. Mrs. Smith should.
a. shut down her business in the short run but continue to operate in the long run. b. continue to operate in the short run but shut down in the long run. c. continue to operate in both the short run and long run. d. shut down in both the short run and long run.
Find the inverse demand curve. How much consumer surplus do consumers receive when Px=$35? How much consumer surplus do consumers receive when Px=$25? In general, to the level of consumer surplus as the price as the price of a good falls?
You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..
What is property according to Chris Hann and why are property rights the foundation of hunter/gatherer societies as argued by Barnard and Woodburn What is the significance of sharing among immediate-return foraging societies.
Research how externalities impacted the development of communication infrastructure- both positively and negatively and discusses a positive example of externality associated with the development of communication infrastructure and Explain why?
the following table presents data on three leading indicators for a three-month period.nbsp construct the diffusion
1. budget constraint.antonio buys 8 new college textbooks during his first year at school at a cost of 50 each. assume
Bank operations using T accounts
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
"The thing a lot of people don't understand about e-commerce is the degree to which it is a scale business. While a conventional retailer might have to double its capital spending to double sales, Amazon's costs are largely fixed.
An Alumnus of West Virginia University whishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If..
Using ideas of consumer and producer surplus analyse this claim. Is there a case for price controls on housing?
Describe each of the subsequent using supply and demand diagrams.
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