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Is it true that in a short-run production process, the marginal cost curve eventually slopes upward because firms have to pay workers a higher wage rate as they produce more output? Explain your answer.
I NEED 300-400 WORDS ANSWER
A market is served by a dominant firm and many smaller firms. These smaller firms act as price takers. Market demand is given by: Q = 1,000 - 17P The combined supply of the smaller firms is Q = 21 + 30P. The dominant firm's marginal cost is MC = 7 + ..
A car is financed as follows: $2,000 as down payment plus equal monthly payments at 8% annual interest rate compounded monthly for 3 years. Original price of the car was $12,500. It is expected that maintenance costs are going to be $700 in the first..
Depreciable residential rental real property has been purchased for $70,000 and put into service during the third month of the taxpayer's tax year. For the applicable 27.5 year depreciation life, determine the allowable straight line depreciation ded..
what was equilibrium price of a box. Is this long run equilibrium price. how many firms are in this industry when it is in long run equilibrium.
Explain using a supply and demand curve the effects of an increase in minimum wage. According to U.S. Department of Labor, effective July 24, 2009, the national minimum wage was $7.25/ hour; therefore, research the current minimum wage rate on the la..
which in this case is lagged second difference. Note that it remains below zero after stock market crash of 1987. You can also do same thing for or variables. Are they fairly consistently away from zero. If so, can you design a rule to make money.
Discuss two reasons that government should intervene in the operation of free markets and give two examples of real-world government policies or programs motivated by these reasons.
Illustrate what is the average labor productivity, in terms of square feet per painter-hour.
The supply curve for portable charcoal grills shifts
Base states that it is not just technology that changes so quickly, but also the impacts which they have upon society. Do you agree? How does that align with the assertion in the lecture that we are now living in a third great technological transform..
Globalization has had a significant impact on the world economy and the economy of the United States. Using economic principles, describe how globalization has affected positively and negatively the economy of the United States.
1. Find the IRR of a project that returns $17,000 three years from now if it costs $12,000. 2. Find the IRR and MIRR of a project if it has estimated cashflows of $5,500 annually for seven years if its year 0 investment is $25,000.
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