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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?
It is always better to hire a more qualified and productive worker then a less qualified and productive one regardless of cost.
Which of the subsequent industries is most such asly to be monopolistically competitive. A normative economic statement such as "The minimum income should be abolished".
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
What is the Law of Diminishing Returns. Discuss a company's two short run options: 1. stay open or 2. shut down.
Explain basic idea behind Big Push model. How can O-ring theory help explain existence of a low-level equilibrium that an economy may find itself.
Assume that we care about the average welfare of individuals in Indian villages, i.e., we put equal weight on each individual's utility.
Explain how many cases of toothpaste should be produced in order to maximize profits. Illustrate what happens if its decided to raise prices unilaterally in this toothpaste market.
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Suppose that Iggi and Kurt begin trading ice cream and waffle cones with each other. Elucidate price of waffle cones (in terms of ice cream scoops) would benefit both Iggi and Kurt and make both individuals willing to trade.
What three factors determine whether two economies with separate fiscal and monetary authorities should form a currency union.
explain increase in quantity of defense goods when there is an increase in marginal benefit.
Illustrate what specific factors might have accounted for this event.
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