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Describe the relationship between unemployment and real and nominal wages. Which is more important and why? What effects would either an increase or decrease in unemployment have on wages?
explain the points in the process where the vendor has an opportunity to add value, be sure to answer the following questions, how does value vary for a large purchase versus a smaller one, does adding value cost money
John has been in the habit of mowing Willa's lawn each week for $20. John"s opportunity cost is $15, and Willa would be wlling to pay $25 to have her lawn mowed.
Should the organization or industry continue, develop, or decrease current operations in order to maximize profits? Explain your answer.
Rick buys a 1966 Mustang for $3,000, planning to restore and sell the car. He goes on to spend $9,000 restoring the car. At this point he can sell the car for $10,000. As an alternative, he can spend an additional $3,000 replacing the engine.
Microeconomics is the study of economics at the individual or micro level. One of the most well known microeconomic models is the production possibilities frontier,
How many units should each plant produce to maximize profit at that price and a perfect competitive firm faces a market price of $10 for its output X
we know that when an economy starts out at long-run equilibrium and the government cuts taxes, this will result in inflation int he long run. what happens if the economy is producing a level of output below the full employment (long run equilibriu..
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
Business proposal for your chosen good or service. Include assumptions about the elasticity of demand and the market structure for the good or service.
Consider the market for tuna, which is a price-taker market. The long-run equilibrium price is $3 per can of tuna, and the long run equilibrium quantity is 600 million cans per year. suppose the surgeon general issues a report saying that eating t..
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
ZZZ, Inc. operates in a monopolistically competitive industry. Its demand curve can be written as P = 160 - Q and its short run total cost curve is equal to TC = 1000 + Q^2. What is the rate of output that maximizes ZZZ, Inc.'s short run profits
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