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Firms in the market for soccer balls are selling in a purely competitive market. A firm in the soccer ball market has an output of 5,000 balls, which it sells for $10 each. At the output level of 5,000 the average variable cost is $6.00, the average total cost is $7.50, and the marginal cost is $10.00. What would you expect the firm to do in the short run? The market in the long run?
Warning about use of magic/spells (by whom?) Death of Pelias (how?) Death of Glauce (how?) Death of children (how/ by whom?)
Explain why the standard deviation would likely not be reliable measure of variability for a distribution of the data that includes at least one extreme outlier
prisoners dilemma is a game that has been and continues to be studied by people from a variety of disciplines from
ALS ( labor hrs per unit to produce sausage) = 1 hr per pound. Find hourly wage rate of Home's economy.
What is the break-even probability of collection?
Illustrate what is the (true) value of the marginal product of each black worker. Discuss the employment decision made by firms for which d = 0.2 and d = 0.8 respectively.
Suppose that Best National Bank currently has $50,000 in demand deposits and $32,500 in outstanding loans. The Federal Reserve has set the reserve requirement at 10%. Reserves? Required Reserves? Excess Reserves?
On Friday night, Elton and his partner Rodney are deciding where to go for dinner. The choices are Indian, Korean, and Mexican. Elton most likes Indian food and most dislikes Mexican food, whereas Mexican is Rodney’s favorite and Indian is his least ..
No additional working capital is needed and no working capital will be returned. If your tax rate is 35% and you require a 14% return on your investment, what bid price should you submit?
Explain the Multiplier Effect. Try to explain it in some detail so that someone who did not know anything about economics would be able to gain a fundamental understanding of it. Use a visual aid to help the observer understand the concept. Should be..
Now? suppose? that? the ?first ?firm? has? a ?capacity ?of ?2 ?and? the? second? firm? has ?a ?capacity ?of ?4.
Explain how much difference can a logo make on two shirts which are otherwise identical. Illustrate what type of market is this.
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