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In the long run, perfect competition results in firms producing a. at the minimum point of their long-run average cost curves, which indicates allocative efficiency b. where price equals marginal cost, which indicates economic efficiency c. where price equals marginal cost, which indicates the optimal scale of operation d. at the minimum point of their long-run average cost curves, which indicates economic efficiency
The car company pays 40,000 to the steel company to buy the steel and pays its workers 40,000 to make the cars, which were then sold to consumers for 120,000. Using the production gof final goods approach, how much is the GDP in this economy?
How much would you have to invest on a monthly basis to yield $1,000,000 in at your retirement i fthe return rate is 4.5% compounded monthly?
A nation suffering from high unemployment would welcome: A: currency appreciation B. A wave of foreign investment C. currency depreciation D. effects of less expensive exports
Abe, Betty and Charlie are the only three students in my graduate Public Finance class and I am trying to determine how many office hours to hold per week for this class. Since my office and blackboard are reasonably large, Suppose office hours don't..
You identify a vacant piece of land zoned for industrial warehouse use which you can purchase for $3.0 million today (an amount which will need to be paid immediately). After detailed analysis you find that constructing the warehouse will take one ye..
In the country of Mainia, GDP consists of cranberries and maple syrup. In 2000, 50 units of cranberries are sold at $10 per unit, and 100 units of maple syrup are sold at $5 per unit. If the price of cranberries was $5 per unit and the price of maple..
This assignment is based on an article published in The Economists' Voice by Cass R. Sunstein, titled 'The Precautionary Principle as a Basis for Decision Making', in Volume 2, Issue 2 , 2005. The article and rubric (i.e. assessment criteria) are att..
Draw their budget set (the combination of housing and other goods that they can afford) in housing-other goods space
Pharmaceutical Benefits Managers or PBM's are intermediaries between upstream drug manufacturers and downstream insurance companies. They design formularies (list of drugs that insurance will cover) and negotiate prices with drug companies.
Among the families you know, how many work for companies that provide goods or services for capital formation—that is, for investment purposes rather than for consumption?
Demand curve is P=41-Q/100 cost of labor is L= 10. The profit in function is Q=10L. What is the marginal revenue product?
Just prior to a professional baseball spring training session, you are asked to assess the probability that a particular baseball team will win the coming World Series.
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