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T shirts enterprise is selling in a purely competitive market. Its output is 300 units which sell for 10 each. At this level of output marginal cost is 1 and average variable cost is 1.50 the firm should?
A news clipping service is considering modernization. Rather than manually clipping and photocopying articles of interest and mailing them to its? clients, employees electronically input stories from most widely circulated publications into a databas..
A Presidential candidate announces that he will propose that participation in the Social Security program become voluntary. That is, you can decide if you want to pay into the system when you work. If you decide not to pay in, you receive no benefits..
Consider an economy in which people wish to hold bank checking deposits worth a total of 5 million goods and currency worth 2 million goods in every period. In addition there is a stock of unintermediated capital worth 10 million goods. ind the total..
Some restaurants are open only for breakfast and lunch but are closed for dinner. What economic factor's determine if it is better to close the restaurant for dinner or leave it open for all three meals times. What general costs (Fixed and/ or variab..
Consider the example presented in Figure 13-3. Imagine that the current price of waste disposal is $0.025/lb and the average waste disposal is 2.40 lb/p/d. As noted in the diagram, when the price was previously $0.01/lb, the average waste disposal wa..
Elucidate how each of the following people would talk about scarcity and trade offs.
Then the Fed increases the money supply. Assuming that any resulting inflation is unexpected, explain any changes in GDP, unemployment, and inflation that are caused by the monetary expansion. Explain your conclusions using three diagrams: one for th..
Per capita income in County A is $45,000. Per capita income in County B is $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B. What is the percent change in the demand for visits?
A researcher claims that the average age of a woman when she has her first child is still equal to the 1993 mean of 27.1 years.
In 2007, five or six major pharmaceutical companies formed a group in order to control the price of vitamins and adjust their production. Such an arrangement is called a ________.
illustrate what steps would you as an auditor take to assure you have minimized the potential for audit risk making a positive evaluation of the firm's financial status when it is in fact negative.
By how much would the quantity of labor demanded decreased if a minimum wage hike raised prevailing wages from $8 to $10 an hour and if the elasticity of labor demand were 0.10? Write the answer in percentage form.
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