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if the total cost of 20 units of a product is 20 and the total cost of 21 units is 21 then from 20 to 21 units of
if there is a decrease in demand for a product in a purely competitive industry it results in an industry contraction
essential problems in bold demand with a quasi-linear utility functionconsider a consumer with the following utility
suppose there are two inputs in the production function labor and capital and these two inputs are perfect substitutes
daniel a recent college graduate is on his way home for the christmas holidays from his new job he gets caught in a
everett mccleskey a local business person is a good friend of al miller the owner of a local candy store every day on
you are thinking about becoming a paradise coffee franchisee franchisees are offered a business specializing in
according to the bureau of economic analysis during the recession of 2007-2009 household saving as a fraction of
according to the wall street journal mitsubishi motors recently announced a major restructuring plan in an attempt to
the production function at ginkos copy shop is q 1000 x minl 3k where q is the number of copies per hour l is the
machine a costs 20000 lasts 3 years and has a salvage value s of 3000 machine b costs 12000 lasts 2 years and has a
farm workers in oaks farmville face a 1198 probability of death at work and each of them receives a yearly wage of
consider an economy operating below its full-employment output level the government wants to enact a reduction in
suppose that twin eye doctors work across the hall from each other even their parents have trouble telling them apart
in 2016 a nations population was 10 million its nominal gdp was 40 billion and its price index was 100 in 2017 its
in 2016 a nations population was 10 million its real gdp was 121 billion and its gdp deflator had a value of 121 by
a patient has a choice of spending 33000 on a procedure in hospital xxx or 24000 on the same procedure in hospital yyy
a firm has the following short-run production function where l labor and q outputq 10l ndash 05l2suppose that the
between 2011 and 2012 the quantity of cars produced and sold decreased by 20 during the same period the price of cars
where does all the water go according to the environmental protection agency epa in a typical wetland environment 40 of
suppose that doctors visits cost 20 and the typical consumer has an income of 100 consumers spend all of their incomes
suppose chartered banks decide to greatly reduce the availability of student loans that are guaranteed against default
a farmer sells cotton to a clothing company for 1000 and the clothing company turns the cotton into t-shirts that it
a machine costs 50000 and increases revenues by 18000 per year however oampm costs increase by 4000 per year the
a nations capital goods wear out over time so a portion of its capital goods become unusable every year last year its