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Which of the following statements is true?
a. economic profit equals accounting profit minus implicit costs
b. the short run is any period of time in which there is at least one fixed input
c. a fixed input is any resource for which the quantity cannot change during the period under consideration
d. in the long run there are no fixed costs
e. all of these.
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on
1. Which function of money is disrupted as a result of high inflation? Why? 2. The central bank of Fiji has issued $1,000,000 in Fijian dollars. What is the size of m
How could utility theory help us understand the difference between a federal income tax and a federal sales tax on consumer consumption patterns?
INDEX NUMBERS OF PRODUCTION Among the commonly used economic indicators to monitor current trends in the economy are indices of production. The main aggregative indices used t
how to get full marks in a drawing of ppc diagrams
Define the interpreting the price elasticity of demand. Interpreting the Price Elasticity of Demand: Demand is: a. Elastic when the price elasticity of demand is greater
If the AD excess is $300 billion and the MPC is 0.8 how much fiscal restraint is required? What does the "debt held by the public" mean?
What is Trade liberalisation Trade liberalisation is the removal of barriers to trade. This has mainly taken the form of restrictions created by national governments like quot
Consider the utility function u(x1, x2) = x1x2. (a) Graph the indifference curves for utility levels 1 and 2. (They are symmetric hyperbolas Asymptotic to both axes). (b) Graph the
Hi, I need help with my Aplia macroeconomics problem sets.
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