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Distinguish between total and average fixed costs
Define and graph total variable cost, maginary cost, and average variable cost
Calculate total cost and explain the relationship between average total cost and marginal cost
identify an instance where a price control is used in our markets. why do you think this price control exists? also
What is the optimal level of production of wine decanters and what is the marginal revenue from the last wine decanter sold and what are the total revenue, total cost, and net benefit (profit) from selling the optimal number of wine decanters?
Currently the expected yearly inflation rate in U.S. is a bit less than 2.0% but let’s assume for simplicity that it is equal to 2.0% (which was also very close to the actual, as opposed to expected, inflation rate in 2012 in U.S.).
What is the price per unit of labor?
Looking at the chart below, suggest the kinds of variables that could be used to represent the following factors, which are believed to affect the demand for any product. Determinants of Demand Suggested Variables to
Compute the cross-price elasticity of demand between goods X and Y at the given prices. What is the own price elasticity of demand at these prices?
An economy has full-employment output, Yn, of 6000. Government purchases, G, are 1200. Consumption is C = 3600-2000r + 0.10Y and investment is I = 12-400r, Y is output and r is the real interest rate. Discover an equation relating national saving, S,..
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
If the current price of the product is $150, what is the quantity supplied and the quantity demanded? How would you describe this situation and what would you expect to happen in this Market?
demonstrate graphically the cost of income taxation of 30 to consumers and producers for an income of 27908?how does
ethanol is a motor fuel manufactured from corn, barley, or wheat, and it can be used to power the engines of many autos and trucks. suppose that the government decided to probide a large per-unit subsidy to ethanol producers.
Now assume that there're five firms in the industry, and that they collude to set the price. What price will they set? What will be the output of each firm? What will be the profit of each firm?
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