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Professional football teams sometimes charter airplanes to take them to their away games. Would you feel safer on a United Air Lines plane that had been chartered by the Washington Redskins than on a regularly scheduled United Air Lines flight?
Hospital administrators sometimes complain about a "shortage" of nurses. The shortage is the result of a higher wages that occur in the competitive market and could be eliminated if nurses earn wages closer to their MRC.
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, how much output must the firm product to break even?
In our analysis of international trade, a country becomes an exporter when the price without trade is below the world price and an importer when the price without trade is above the world price. Does that conclusion hold in your answers to parts (..
WHAT IS THE CURRENT AVERAGE NATIONAL INCOME? WHAT IS THE CURRENT UNEMPLOYMENT RATE? WHAT IS THE CURRENT INFLATION RATE?
How does competition affect profits and prices? What causes some firms to enter an industry, and others to leave it?
Now suppose the government decides to subsidize the production of sugar (regardless of who it is sold to). The government wants to achieve the same increase in domestic production as in part d). What should be the amount of such production subsidy..
Is the marginal social cost of the activity greater than or equal to the marginal cost to the individual Consequently, without intervention, will there be too little or too much(relative to what would be socially optimal) of this activity
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
Professional sports players are generally paid much more than farmers, factory workers, engineers, and teachers. The markets for the professional sports players, farmers, factory workers, engineers and teachers are generally competitive.
Suppose a monopolist producing Q units of output faces the demand curve P =20 -Q. Its total cost when producing Q units of output is TC = F + Q2, where F is a fixed cost. The marginal cost is MC = 2Q. a) For what values of F can a profit-maximizing..
The box industry was perfectly competitive. The lowest point on long run average cost curve of each of identical box producers was dollar four, and this minimum point occurred at an output of 1,000 boxes every month.
Is the deficit and the debt a problem to be dealt with or not? Explain. Why do those who worry say it is different from the World War II debt Explain. Can the FED keep buying up 40% of the government bonds floated Explain. What danger does that ho..
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