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a. A profit-maximizing business incurs an economic loss of $10,000 per year. Its fixed cost is $15,000 per year. Should it produce or shut down in the short run? Should it stay in the industry or exit in the long run?
b. Suppose instead that this business has a fixed cost of $6,000 per year. Should it produce or shut down in the short run? Should it stay in the industry or exit in the long run?
A monopoly firm is different from a competitive firm in that: there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product. a monopolist's demand curve is perfectly inelastic while a competiti..
Describe an externality created by a firm in your state. b. What are the social costs associated with the externality c. List three remedies that the federal, state, or local government could introduce to reduce the problem.
When war broke out in the Middle East, many markets were affected. Most of the worls's oil production takes place in this region and what happens in the market for oil; and (ii) what happens in the market for sports utility vehicles as a result of ..
College Financial Sources, which makes small loans to college students, offers to lend $500. The borrower is required to pay $40 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year
Hypothetically, if Apple and Samsung decided to collude, instead of suing and counter-suing each other, what would the equilibrium prices and quantities be? Assuming each firm keeps the profit from its own market, what are these profits?
Give a specific example for each ( US Companies ). Which one is better market from the stand point of producers? Which one is better market on the stand point of consumers?
Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in this market.
Discuss how deficit spending relates to the economic collapse of the Greece and Spain economies. Relate their economic collapse to U.S. current economic problems. How does U.S. deficit spending affect our economy? Greece and Spain have introduced ..
The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt mostly credit cards and auto loans but maintained the deductibility of interest payments on mortgages and home equity loans.
Why is the U.S. GDP so much higher than that of Mexico? Would the same reasons apply when we compare the U.S. GDP to Canada's GDP?
Which of the following is NOT an explanation for the revival in the growth of productivity starting in the mid 1990s? A)Cell phones and wireless Internet access increase worker flexibility. B)Internet use has increased the efficiency of how firms b..
Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus?
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