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Watch the video for the week, read the lecture notes carefully before you answer the question. Should a perfectly competitive firm making a loss in the short-run always leave the market? Why? What about in the long-run?
q1. suppose that businesses buy a total of 170 billion of the four resources labor land capital and entrepreneurial
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
explain why an increase in the wage rate for autoworkers will generate more of a negative employment response in the long run than in the short run
Identify the Classical prescription for curing unemployment and contrast it with the Keynesian prescription. Which prescription do you agree with? Why?
If the firm has a monopoly in product A and product B is sold in a competitive market, then what is the profit-maximizing tie-in sale price of product A?
If, at the current price, there is a surplus of a good, then
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 130 - 0.25P, and the marginal cost of production is $160. Determine the optimal number of units to put i..
An? individuals demand curve is negatively sloped because...
A firm makes and sells a computer for $1000. The variable cost to produce. A computer, for the range of production of the firm, is $300 per unit. The total fixed cost per year to make the computer are $4.0 million. How many computers must me made and..
Which one of the following variables is most likely to increase as production effort is increased? Which one of the following variables is most likely to decline as production effort increases? The efficient price of a license fee is determined by th..
Suppose you are choosing between milk and cookies. If the opportunity cost of cookies in terms of milk increases, then the budget curve will: A. An inward rotation of the budget curve B. An outward rotation of the budget curve C. A parallel outward s..
The difference between total costs and variable costs is:
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