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Short and Long Run. Let's assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Fixed and Variable Costs. After reading Chapter in the text and viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post:
a. First, describe several different fixed costs and variable costs associated with operating an automobile.b. Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.
1- solve the partial derivative of the following functions with respect to each independent variable2- does any of
A tire company can produce a number of Q tires per day at a cost TC = 500 + 2Q + 0.5 Q² price (P) $ 70, - per tire a. Express the income (TR) and Profit (π) as a function of Q.
Explain how you knew the price earnings ratio was attractive and unfavorable.
you are reviewing your monthly budget and determine you have 60.00 to spend on either books or movies each month.
An example of a market incentive plan is:
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases
The manager of a department store wants to determine what proportions of people who enter the store use the store’s credit cards for their purchases. What size sample should be taken so that at 99% confidence, the error will not be more that 8%?
Imaginethat your Learning Team is a group of economic advisors working for the U.S. president. You have been tasked with evaluating the current state of the U.S. economy and making recommendations on how to improve it.
A study has estimated the effect of changes in interest rates and consumer confidence on the demand for money to be: ln M = 14.666 + .021 ln C ? 0.036 ln r, where M denotes real money balances, C is an index of consumer confidence, and r is the in..
Regress average hours worked during the year on the variables given in the table and interpret your regression.
When do assumptions create in conjunction with economic theorizing have to become realistic? Can unrealistic assumptions provide useful outcomes?
select a global fortune 500 company that operates in the united states and in other nations around the world.summarize
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