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You are the project executive of a monopolistically competitive firm. The present demand curve is . Your total cost equation is , and MC = 17Q a. What level of output should you set to maximize profits? b. What price would you charge? c. What will happen in your market in the long run? Explain.
Define explicit costs and implicit cost. Give two examples of each. What is included in an economic profit? what are some explicit an implicit costs of attending college? what about owning a business?
The unemployment rate is an example of a Federal Reserve
Download and Read "Questions about Fiscal Policy: Implications from the Financial Crisis of 2008-2009." By N. Gregory Mankiw. After reading the article, answer the following questions: During the crisis of 2008-2009, the Obama's administration's stim..
A boat is purchased by financing $40000. The loan is to be paid over a 5 year period with annual payments based on a 12% interest rate. Each successive payment is scheduled to be 10% greater than the previous one. Determine the size of the smallest p..
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-a..
Research and write a 2-3 page paper on the economic impact of globalization on the US the labor market (such as jobs, demand, supply, efficiency, productivity e.t.c). Critically analyze. Support your analysis with body of knowledge.
How would this change the consumer and producer surplus? Suppose a price floor of $16 was imposed. How would this change the consumer and producer surplus?
A deposit of $ 40,000 is put in a savings account at an interest rate of 3%. The interest is compounded quarterly, Equal annual withdrawals are to be made from the account, beginning one year from now and continuing forever. What is the maximum annua..
q1. something went wrong when you completed the integration on the questions. for example on question one the q should
Other things equal, if more firms enter a monopolistically competitive industry:
Derive the simple bid-rent function for a model with only firms. Illustrate what factors can cause the city to grow larger.
Suppose that the aggregate expenditure curve can be expressed algebraically as AE=3,000 - 2,000r where AE is aggregate expenditures and r is the real interest rate expressed as decimal. You check the website of the Congressional Budget office and lea..
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