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Q. 1. Government says that firm X must pay $1000 in taxes simply because it is in business of producing a good. What cost curves if any does this tax affect and does MC change if TC changes.
2. If accounting profit is $400,000 greater than economic profit what do implicit costs equal?
3. If economic profit equals accounting profit, what do implicit costs equal?
Illustrate what is the total opportunity cost of the day that Farmer Tony incurred for his spring day in the field planting wheat.
Illustrate what is the economic profit (or loss) of Texas Citrus Company in the short run. Do new orange growers enter the market in the long run.
Suppose that an increase in crime (O) also results in a per unit amount of social damage equal to d(d>0).
From what you know about these firms' cost structure, what is the highest possible price per unit that could be existing as the market price in the long run equilibrium.
Suppose that only data on in action were published but not on claims for unemployment. What would be a reaction of the USD/EUR in that case.
Find out his utility maximizing H and L. Assume he is not eligible for welfare. Now assume he is eligible for welfare. Does he take welfare or work.
Discusss the effects to the equilibrium price level and GDP. Make sure to address consumption, disposable income, and aggregate demand in your answer.
Discuss a situation in which both parties entering into a contract could benefit from slightly ambiguous language contained in the agreement.
Some of the largest import tariffs tax on imported goods is on shoes. Strangely, the cheaper the shoes, the higher the tariff.
Which firm's product provides the greatest value-created. In an industry equilibrium in which the firms achieve consumer surplus parit.
Compute the equilibrium interest rate by setting the overall demand for money equal to the overall supply of money.
how resource growth and improvements in technology can allow a nation to increase its production of government goods and services while also increasing its output of private goods and services
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