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A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land show diminishing returns, because some are better suited for wheat production than others. The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. In the table given below answer the following questions. How many bushels will each of the farmer’s five acres produce? How much revenue will each acre generate? What are the TR and MR for each acre?
What is the difference between a production function and an quant. Explain the law of variable proportions with the help of quant.
Illustrate what is the economy's MPC? It's MPS. Illustrate what was the APC before the increase in disposable income.
Could the oligopoly market structure benefit both consumers and businesses by forging common standards in industries that experience rapid technological change.
Why profits encourage entry into purely competitive industries and explain how losses encourage exit from purely competitive industries.
In addition categorize the level of elasticity of a product or service of your choice from real life depends on what you know happens to the percentage change in quantity demand when the price changes.
Two identical company's save money from polluting. A company's marginal savings from emitting an amount are given by 10 - 2e. The two firms differ in their impact on ambient pollution concentrations.
A firm will have constant profits of $100,000 per year for the next four years and the interest rate is six percent. Assuming these profits are realized at the end of each year, what is the present value these future profits?
what are the examples to producers take advantage of the internet to implicitly fix the prices
Elucidate what are the arguments in favor and in opposition to an independent central bank.
Explain how specifically can GDP be adjusted to better measure well-being.
Illustrate what is the Pig Farm worth. Elucidate what is the minimum one-time payment Farmer A would accept to agree to restrict his land for residential use forever.
Elucidate what is meant by "double coincidence of wants, and why it poses an impediment to efficient trade in a barter economy.
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