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When a company is faced by a kinked demand curve, the marginal revenue curve will be:
a. Always zero at quantity produced, b. Discontinuous, c. Horizontal, OR d. Upward sloping
Discuss are a good thing since they transfer resources from lower rated to higher rated activities thereby helping to maximize society's happiness?
College Financial Sources, which makes small loans to college students, offers to lend $500. The borrower is required to pay $40 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
It has often been said that craft unions (electricians, carpenters, etc.) possess considerably greater power to raise wages than do industrial unions (automobile workers, steel workers, etc.) How would you explain this phenomenon in terms of deman..
Many suppliers experience economies of scale as output expands, which implies that long-run average costs are falling. At very high levels of production, however, many firms are likely to experience diseconomies of scale.
Using the same product example above, analyzing how the risk tolerance factors play in supplying the good or service and how this should influence management's decisions.
What are some things that would affect changes in supply? How can quantity demanded be changed and what if the government raised the minimum wage. How would this policy effect your firm?
1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that affect you personally 2. Discuss the motivation of policymakers. Are they held accountable by voters
Our economy is currently in recession so let's discuss how discretionary Fiscal Policy can help the situation. Please explain why tax cuts may be needed now and why we see budget deficits going up during the recession. What is the 'Crowding Out' e..
Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia and what is Thorpe's marginal cost of GPA? Show and explain how his MC curve is derived.
In what ways is state power changing (increasing, decreasing, shifting, diffusing)? and What are the implications of these changes for how we tackle some of the global issues?
Economic opportunities happen from nations which develop industries in which they have a comparative advantage and describe the concept of comparative advantage.
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