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A firm is currently producing 80 units of output. At this level of output produced, P=150 and ATC=120. Also assume that MC=130 and MR is constant at all output levels and equal to 150.
a. Is this firm making profits? If so, what are these profits?
b. Is this firm maximizing profits? If not, what would you reccommend this firm do to maximize profits? Why?
If the economy's real GDP doubles in 18 years, we can...
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One explanation about rights is that there is a difference between what we have the right to do and what is the right thing to do Explain what you think is meant by this statement
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Derive graphically the long run supply curve for an increasing cost industry. Provide some explanation with your graph.
Explain what percentage change in the price of each of the three goods. Using a method similar to the consumer price index, compute the percentage change in the overall price level.
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