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Using the values of DOL calculated above, calculate the profits for a 10% increase and 10% decrease in quantity.
Is this technology characterized by economies of scale? What is marginal cost and how does it compare to average cost?
A new tennis court complex is planned. Both alternatives will last 18 years, and the interest rate is 7%. Use present worth analysis to determine which should be selected.
Supposed the USA and Canada are considering to trade. Assume there are only two goods in the economy; wheat and corn. USA 4 (units of wheat), 2 (units of corn); Canada 5 (units of wheat), 8 (uni
What factors amount for the rapid growth of the world trade since the second world war? Who are the major players in international trade today? Besides China and Japan, what other Asisan nations play
What are the major fiscal policy positions of the Republican and Democratic parties? What do the differences between their positions mean for public policy?
A father goes to the pharmacy late at night for cold medicine for his sick child. all medicine have almost the exact ingredients brand names sell for more. Explain, in economic terms this situation to
How does the demand curve faced by a purely monopolistic seller differ from that confronting a purely competitive firm? Why does it differ? Of what significant is the difference? Why is the pure monop
What groups in society would you expect to be the most enthusiastic about Adam Smith's ideas? Why? What groups might be expected to oppose them?
What is the consumer price index (CPI)? How is it measured? What are the pros and cons of using the CPI as a measure of the cost of living? Use examples in your response.
How would you advise your friend relative to monitoring changes in the business cycle (i.e. identifying expansion vs. contraction of the economy)?
Suppose the equilibrium price for apartments is $500 per month and the government imposes rent controls of $250. Which of the following isunlikely to occur as a result of the rent controls?
Two events occur simultaneously in the market for automobiles: (1) an improvement in assembly line 'technology' and (2) the economy enters a 'recession' (which decreases 'income' of consumers). An eco
On Wednesday, the exchange rate between the euro and the U.S. dollar was $1.20 per euro. On Thursday it was $1.18. Did the dollar appreciate or depreciate against the euro? By how much?
A company must decide whether to buy Machine A or Machine B.Machine A:Initial Cost: 10,000
An investment alternative will yield an income of $12,500 now (t=0) and $8,000 three years from now. What is the accumulated amount at the end of 8 years if the interest rate is 9% per year compounded
What is the optimal quantity for the monopolist? What is the corre-sponding price
Suppose a firm has a constant marginal cost of 10$. The current price of the product is 25$, and at that price it is estimates that the price elasticity of demand is -3.0
Suppose you just got the results for your economics midterm: you scored 90 points. You also learned that the class grades were distributed normally, the average was 75 points, and the top ten percenti
According to the BLS, what was the inflation rate for gasoline for the month of December 2010?
The table gives me Total product, average fixed cost, average variable cost, average total cost, marginal cost, and price. How do i decide if a firm can produce in the short run?
Given the following information, if the loan is paid by a uniform annual payment scheme, determine the value of A, B, and C.
If a nation desires to have stable prices (or low inflation), why not simply pass a law that prohibits firms from changing prices? Explain the pros and cons associated with this case.
In a closed economy the marginal propensity to consume is .60 and the marginal propensity to invest is 0.10. What is the size of the multiplier?
Evaluate the macroeconomic implications and microeconomic consequences of a monopolistically competitive firm or an oligopoly firm filing for bankruptcy