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What do economists mean when they refer to "economies of scale"? Why do economies of scale exist in the context of hospital services? Does this mean a hospital market comprised of a few large hospitals is preferable to a hospital market comprised of more, smaller hospitals?
Draw a graph to analyse the effects of 40 per cent tariff rate in Korea on the price, domestic supply of and demand for beef, and compare the situation with no tariff case.
Your supervisor has asked you to compute the elasticities for each independent variable - Compute the elasticities for each independent variable.
stuck on these an open economys GDP is always given by. 1.Y=C+I+G+T 2.Y=C+1+G+S 3.Y=C+I+G 4.Y=C+I+G+NX other things the same, an increase in the U.S interest rate causes the quanity of loanable funds supplied to 1. rise bc net ccapital outflow and do..
What is the relationship between the average variable cost and marginal cost and relation between average product and average variable cost?
As in part A there is a 50% chance the share market crashes. If John maximises expected utility, what value of ß should he choose?
When a firm focuses on increasing profitability by customizing the firm's good or services so that they provide a good match to tastes in different national markets, it is pursuing A Localization strategy.
Assume a company has the following demand equation, Q = 1,000 - 3,000P + 10A, where Q = quantity demanded, P = product value, and A = advertising expenditures
Consider the production function Q=100L^.5K^.4. Suppose L=1 and K=1 so that Q=100. Explain the nature of returns to scale for this production function.
Which is not a factor of production? Which is not one of the five fundamental questions that an economy must deal with?
You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
Suppose a textbook monopoly can produce any level of output it wishes at a constant MC and AC of $5 per book. Assume that the monopoly sells its books in two different markets that are separated by some distance. The demand curve in the first mark..
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