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In the ________, if profits are not possible, the perfectly competitive firm will seek out the quantity of output where ________.
long run : variable costs can be increased
long run : fixed costs can be eliminated
short run : losses are smallest
short run : fixed costs can be reduced
Ryan and Asha produce water skis and wakeboards. The first table shows Ryan’s production possibilities and the second table shows Asha’s production possibilities. Each week, Ryan produces 5 wakeboards and 40 water skis and Asha produces 10 wakeboards..
Some companies establish prices for their products by marking up their full manufacturing cost
Neville has demand function q = .02m - 2p, where m is income and p is price. Income is $8,000 and he initially had to pay a price of $40 per bottle of claret. The price of claret rose to $80. The substitution effect of the price change is?
Current, Greece has a debt of roughly 175% of GDP. The new government has announced it wishes to negotiate a write-off, something Eurozone leaders have so far refused. From prior knowledge and this post, I understand that governments may want to stim..
The economy begins in long-run equilibrium. Then one day, the president appoints a new chairman of the Federal Reserve. This new chairman is well known for her view that inflation is not a major problem for an economy.
What are the four reasons or justifications for government intervention in the economy? Describe two in details, providing an example of each.
American rice producers have extremely high production costs, due to some structural problems. Therefore, if not supported by the government, they will not be able to compete with foreign producers. Analyze two supportive policies intended to maintai..
Provide an appropriately labeled boxplot of the data below and use a randomization test to examine whether the null hypothesis holds that male and female turtles have the same mean serum cholesterol.
Wilson is offered a job in Kansas City that pays $50,000 and a job in Dallas that pays $60,000. Which pair of CPIs would ensure that the two salaries have the same purchasing power?
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes. How many servings of grapes can the school afford each d..
Explicate why one of them brings positive effects to the economy also the other negative effects.
1.what is mas most important industry in 2012? why? how are you measuring it?2.give some examples of how tourism
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