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The short-run supply curve of a perfectly competitive firm is the rising portion of ___ above ___.
A) average variable cost; marginal cost
B) average total cost; average fixed cost
C) marginal cost; average variable cost
D) none of the above
q.denise is thinking about setting up a butterfly garden in her backyard. she estimates that it will cost her 2000 to
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
A primitive economy uses two inputs, capital and labor, to produce two products, food and shelter. The marginal rate of technical substitution between capital and labor in shelter production is 1/3, while the MRTS for food production is 1. How, if at..
Perfect and imperfect multicollinearity: Define perfect multicollinearity either mathematically or explain it intuitively. Explain how imperfect multicollinearity differs from perfect multicollinearity (you may, but don’t have to, use examples).
EPA issued 30 tons of permits to two different utilities. If the utilities had been truthful about what it cost them to mitigate a ton of pollution and EPA had been able to make the marginal benefits and marginal cost equal (balanced). what would the..
Consider the following statement. "Winter ice storms that sometimes hit Chicago are good for the economy. They create many jobs to remove downed limbs and replace trees and bushes." Do you agree that ice storms are a net benefit to the economy? To an..
then an initial increase in aggregate demand of $100 billion will eventually shift the aggregate demand curve to the right by.
A business employing 8 workers to produce commemorative t-shirts for campus events organizations.
You invest in a fast food restaurant on Rt. 13 in Dover, Delaware (Hey, it seemed like a good idea at the time). You were required to invest $300,000. One year passes. You decide to sell your business. During the year you were paid $25,000 as your % ..
Now let's say that the central bank of Columbia decides to do $300 in easy open market operations with Bank A only . After this open market operation is complete, calculate the maximum amount of money that Bank A can create on its own.
Find the optimal quantity of labor supplied by a consumer who has a utility function for leisure (l) and “goods” (y) of U(l,y)=ln(l)+ln(y) , no non-labor income, a wage of 10, and 2000 hours of time.
neither person may trade away any water to the other for exchange for more bread. Set up an Edgeworth Box to depict this situation and elucidate why it is unlikely to be Pareto efficient.
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