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If the cost of plaster and labour is $9 per gnome, what is the lowest price of gnomes at which there is a positive supply in the long run? (Remember that in order for there to be a positive supply in the long run, producers need to get their money back plus a 10% rate of return on their investment)
According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..
Illustrate what is the expected annual demand also the total revenue corresponding to your recommended price
A firm's demand function is defined as Q = 14 %u2013 2P. a) Use this function to calculate total revenue when price is equal to 3 and when price is equal to 4. b) What is marginal revenue equal to between P=$3 and P=$4?
between patents and copyrights which reflects a free market and which is a grant of monopoly privilege by the state?
Suppose at the current level of labor used, the MRP = $100 and the MFC = $50. Elucidate the maximize profits
The selling price of a house is $1,375,000. You have enough money for a 15% down payment with the balance authorized at 4% annual compounded monthly for 30 years. How much will the monthly payments be? How much interest will be paid over the term of ..
Given that the demand for tickets is a binomial random variable with parameters n = 10 and p = 1/2, illustrate how many tickets should she buy in order to maximize her expected profit.
You are an economic consultant for Farmer Perk, who produces raw cotton and sells it in a perfectly competitive market. Illustrate what is Farmer Perk's profit-maximizing level of output.
q. an economy has the following consumption functionc200 0.8 dithe government budget is balanced with government
q.suppose that the world consists of only two countries a and b of relatively equal sizes. the world interest rate in
Assume that there are 10 million workers in Canada also that each of these workers can manufacture
The year is 2009 and you have just been elected President of the U.S. The economy is in crisis due to problems in the financial sector and housing markets. Unemployment is 9.5% and rising and the BEA reports GDP has decreased over the last two quarte..
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