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In the argument for why perfect competition is allocatively efficient, the price that people are willing to pay represents the gains to society and the marginal cost to the firm represents the costs to society. Can you think of some social costs or issues that are not included in the marginal cost to the firm? Or some social gains that are not included in what people pay for a good?
q.suppose we have the following three projects up for vote a naval ship a hospital and a park. there are three
Indicate whether this production function exhibits constant, increasing, or decreasing returns to scale.
gricultural markets are often cited as exhibiting the characteristics of the perfect competition market structure. Does farming fit this model? Use the key word ECONOMIC NEWS in an Internet search engine (Google, Bing etc.) to locate online news sour..
Research where you would find the U.S. international trade policies and their history as they apply to various industries.
demand for a good of an industry is given by the equation pq=100, where p is the price and q is quantity and supply is given by the equation 20+3p=q. find out the equation price and quantity
Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year.
Describe what happens after the technological change. What happens to the wage in the long run? What happens to the population size in the long run?
q1. compare the supply and demand conditions in both locations. how many people live in each place? what is the weather
What happens in a perfectly competitive industry when economic profit is greater than zero?
If going rate for developing a roll of film is $8.50, is industry in long-run equilibrium. If not, find price associated with long-run equilibrium.
q.a local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor
Sketch the monopolistically competitive firm's demand curve by plotting one point on the horizontal axis and a second point on the vertical axis.
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