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Q1. "1. At point E in figure 8.4b, is MP k/r greater or less than MP l/w? 2. Explain how do you know? 3. Use this inequality to Elucidate Explain how the firm can increase output without increasing its total cost by using a different combination of inputs.
Q2. Discuss Explain how "Game Theory" can be used to improve strategic decision making in competitive situations.
Q3. If the cubic total cost function described in the text applies to the production of output by a firm, and a=0, b=400, C=-50, D=5, Illustrate what are the equations for the firm's TFC, TVC, MC, AFC, AVC, and ATC?
Be sure to label your graph carefully as well as accurately. What is the slope of the budget constraint.
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
Suppose each of the five sellers can supply at most one unit of the good. Elucidate the price when market quantity supplied is exactly 3.
Examine the key factors affecting the demand for and the supply of a good or service
Illustrate what is the short-run market supply curve. Find out the short-run equilibrium cost and quantity in this industry.
What s the general pattern of the US income distribution over the last century. Explain about the timing of the changes.
Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
What factors determine the intensity of rivalry in an industry. Is the intensity of rivalry in the PC industry high or low.
Illustrate what would be the best advice to give him knowing which this is his only source of income.
Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.
Explain how you would tell the employee and your remaining subordinates.
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