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What factors influence a firm's competitive strategies? How does global economic competition impact the price elasticity in the domestic market and decisions related to the strategy a firm uses to compete? Why do most economists oppose trade restrictions? Who have been the winners and losers as a result of NAFTA? Explain your answer.
Gizmos, Inc. produces gizmos at an average total cost (ATC) of $20 and an average variable cost (AVC) of $15. The only fixed input used in the production of gizmos costs $20. What are the total costs (TC) and total variable costs (TVC) of Gizmo’s cur..
1. suppose the price elasticity of supply for new homes is 0.25 in the short run and 1.05 in the long run.a. if the
Both countries have the same rate of depreciation (5%). Use the Solow model to calculate the ratio of their steady state levels of income per capita, assuming ? =1/3. a) Verbally, interpret your answer. b) How would your result change if ? =1/2?
When prices change, the income effect and substituion effect both contribute to the impact on quantities consumed. Explain how both effect a consumers utility maxization.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
public policies often alter the costs and benefits of private actions. why is it important for policymakers to consider
do some research on the country of ethiopia and discuss1. who in the ethiopian society has the most difficult time
Consider the effects of a new matter transmitter,an indivisible input that is economical for trading firms in the city, but not for an individual household. The volume of trade in the region will [increase; decrease; not change]
Discuss and explain the income and consumption relationship make sure to describe marginal propensity to consume. If you received an extra dollar, how much of it would you spend?
Within rich economies, there is strong evidence of convergence ________.for regions within a country.with developing economies. leading to military conflict.
The ABC Company deposited $100 000 in a bank account on June 15 and withdrew a total of $115 000 exactly one year later. Compute:
Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if..
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