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In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:
A.What level of output will the firm produce?
Explain why does the government support public education when the private sector also provides this service.
Why is economics considered a social science? What role does economics play in your personal and professional lives?
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time
Discuss any significant use of discretionary fiscal policy (fiscal stimulus package, deficit restructuring...) during the period.
How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?
A company operates plants in both the United States(Where capital is relatively cheap and labor is relatively expensive) and Mexico(Where labor is relatively cheap and capital is relatively expensive). A. Why is it unlikely that the cost-minimizing..
The price mechanism would be least important under which kind of economic system? a) capitalism b) socialism c) communism d) fascism
How much profit does an individual producer make in a month? Is this a long-run equilibrium? If the answer is yes, simply state that it is a long-run equilibrium. If the answer is no, explain whether or not the equilibrium price will rise or fa..
Delmar Custom Homes (DCH) uses two types of crews on its Long Island, NY, home construction projects. Type A crews consist of master carpenters and skilled carpenters, whereas B crews include skilled carpenters and unskilled labor.
A law was passed requiring a minimum weight for fashion models. Using game theory 2X2 matrix, show how the law prevents a prisoner's dilemma and makes the models better off. Show what the game theory looks like without this law.
Explain why would you expect inflation rate to accelerate if actual unemployment rate declined to a level lower than the "full employment" unemployment rate & remained at that low level for a year or longer and creaste and AS/AD diagram
Illustrate what would happen to general and specific training in labor markets.
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