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To earn economic profit, a monopolist must charge a price that:
A. maximizes total output
B. is above average cost
C. is greater than demand
D. is below marginal cost
E. equals marginal revenue
A committee of 4 has to be chosen from 12 representatives, of whom 8 are men and 4 are women. If selection is random what is the probability that.
q. 1 the cost to drive on a freeway is 0 at all times of the day. this cost establishes equilibrium at 3 a.m. however
goods and services that are not sold in markets such as food produced and consumed at home and some household articles
Aggregate Demand-some-not all--of these and/or other terms from this week. Explain how can tax cuts help revive the economy.
Define benefit and cost externalities. Explain why situation involving benefit externalities tend to result in an under allocation of society’s scarce resources.
When the Macintosh computer was introduced in 1982, Apply made it difficult for third party software developers to develop software for the platform. In contrast, Apple made it relatively easy for third party developers to make applications that ran ..
Recall that the Law of Demand states that demand curves are always downward-sloping. That is, people want to buy more of some good when its price is lower. Why is a firm’s short-run demand for labor downward-sloping?
Refer to the graph above representing the purely competitive market for a product. When the market is at equilibrium, the total opportunity cost of producing the equilibrium output level would be represented by the area:
Describe each country's reaction function. Does a Cournot equilibrium exist? If so, find the outputs and prices of crude oil in the two countries.
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Assume you plan to invest $10,000 at one of the following interest rates. Order the interest rates in declining order of the amount of interest they would provide in one year
A manufacturing company purchased electrical services for the next 5 years to be paid for with $70,000 now. The service after 5 years will be $15,000 per year beginning with the sixth year. the electrical company considered 15% compounded annually as..
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