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Q1. Using demand also supply analysis, explain why this new process will not cause a surplus of crude oil. If no surplus is created, then illustrate what will be the impact of this process on the marketplace for crude oil?
Q2. Is it possible to have diminishing returns to a single factor of production also constant returns to scale at the same time? Explain briefly.
Q3. Assumes that wheat producers lobby the government for a price floor also receive one. This price floor is set at PF. Illustrate what has occurred to the producers' surplus as a result of the imposition of the price floor?
At what level of output are total profit maximized. Illustrate what price will be charged.
The production process requires labor and capital as inputs. Labor costs $6 per labor hour and capital costs $12 per machine hour.
Economists argue that the move from barter to money increased trade and production. How is this possible.
Illustrate a form of financial instruments through which corporations and governments borrow money from financial investors and promise to repay with interest.
When you purchase and eat a hamburger, no one else can eat the same hamburger. When you download a file on the Internet, the file is still available.
Every Saturday morning he requires his sales staff to send him a report. This report Comprises, among other thing, the number of professors visited during the earlier week.
Divide the Banzhaf power index by the number of votersin state. Are votersin small states or are votersin big state more powerful, according to this measure.
What is the deadweight loss if buyers, instead of vendors, are required to pay the tax of $4 for each unit of the good sold.
Firms raise capital from investors by issuing shares in the primary markets
In Managerial Economics, Applications, Strategy, and Tactics, if contract promises were not excused because of acts of war, would the clearing and settlements clients of Bank of New York change their behaviour
Illustrate what does the evolution of Coke's strategy tell you about the convergence of consumer tastes and preferences.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
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