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1. Why is marginal analysis important in economics? How do the tutorials Basics of Marginal Analysis and Understanding and Applying Marginal Analysis at the end of this week's lecture reinforce the concepts of marginal analysis? How can any firm find the right production level which guarantees maximum profit (or minimum loss)?
2.Name some of the ways firms attempt to control their costs. How does your firm control costs? The key here in keeping this question interesting is that reducing the workforce or having one person do the work of three people are not the only ways to control costs.
Suppose that Dr. Slight has $100 to spend on goods X and Y. Each good costs $1. Dr. Slight’s preferences are such that he will exchange one unit of Y for two units of X to maintain his wellbeing, regardless of how much of each he is currently consumi..
outsourcing may provide tremendous advantages for firms. it may allow companies to specialize reduce costs and focus
can the government always reduce the budget deficit by simply increasing taxes? why or why not? please explain your
A.Based on the National Accounts, what policies would you implement to eliminate a NX
defendo has decided to introduce a revolutionary video game and as the first firm in the market it will have a monopoly
Explain with the use of diagrams where appropriate how perfect competition leads to allocative productive and dynamic efficiency - What is a natural monopoly? If a firm is a natural monopoly, illustrate with the use of diagrams why is it is nec..
Suppose the price of c increases to 2, while income remains constant and what happens to the consumption of c and h? Are c and h substitute goods, complementary goods, or neither?
Normal 0 false false false EN-US X-NONE X-NONE Describe and explain the th..
The hair stylist, LTD., is popular-priced hairstyling salon in College Park, Maryland. Given large number of competitors, the fact that stylist routinely tailor services to meet customer needs, and the lack of entry barriers, it is reasonable to s..
explain why inflation is a main concern for an economy and examine how well inflation in australia has been managed by
as the lead software engineer for a medium-sized hospital you have been asked to spearhead an effort to improve the
GM Company is considering opening a dealership in Germany, but is unsure ifit can earn an 8% rate of return that is promised by an alternative investment (of similar risk).The initial outlay for a dealership office would be $400K, and another $220K w..
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