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What is the difference between short-run and long-run decisions? Elaborate more on how a firm may choose different criteria in choosing its short-run versus long-run optimal output levels? Why? How does this fit into the derivation of a competitive firm's supply curve?
look at the two tables below which show respectively the willingness to pay and willingness to accept of buyers and
what is the difference between a change in demand versus a change in quantity demanded? a change in supply versus a
How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..
give the definitions for marginal rate of substitution mrs and the price ratio. then explain them in your own words
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
Assume that as the result of recent labor negotiation, wage rates are reduced by 10% in the production procedure employing only capital and labor.
supposed that the reserve requirement is ten percent and the balance sheet of the peoples national bank? does the bank
Which of the following products and services are likely to encounter adverse selection problems: golf shirts at traveling pro tournaments, certified gemstones from Tiffany's graduation gift travel packages, or mail-order auto parts
a knitting mill sells about 20000 units of its product per year at an average price of 10 each. fixed costs amount to
Build the time series for the Index of Openness (Export of Goods/GDP) using a spreadsheet and build the time series of Imports of Goods/GDP.
Describe and discuss; Use the concepts of economies and diseconomies of scale to describe a firm's long run Average Total Cost Curve.
The demand for lumber, like that for carpenters, is a derived demand-derived from lumber demand in its many uses, particularly housing. When the demand for new housing increases, so does the demand for lumber. For example, as the U.S. economy reco..
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