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what happens in a perfectly competitive industry when economic profit is greater than zeroa existing firms may expand
in order to attract more customers on mondays a slow day alexs pizza shop decided to reduce the price of their pizza
you have 1000 to invest over an investment horizon of three years the bond market offers various options you can buy a
the abc company manufactures digital clock radios and sells on average 3000 units monthly at 25 each to retail stores
the market demand for another product you are considering selling is qp 100 1p and as the 2only producer of this
the gains from specialization and trade are based on comparative advantage which reflects the relative opportunity cost
what is the opportunity cost of investing in physical capital do you think a country can over invest in physical
the market demand for another product you are considering selling is qp 100 1 p and as the 2only producer of this
suppose the peoples bank of china wishes to peg the rate of exchange of its currency the yuan in terms of the us dollar
imagine the hourly production for tuna cans is given by q 6k 4la assuming capital is fixed at 6 how much l is
if there are no fixed costs of production in the long run the perfectly-competitive firm will producea where av c is
your weekly costs to producing q units are given by the following equation cq710q35q2 q3with this technology ac is
if there are no fixed costs of production the q that solves the firmrsquos first-order condition isa also likely to
interest rates on us treasury bills are typically much lower than interest rates on us treasury notes and bonds if the
if a firm faces consumers who are very sensitive to pricesa the firm will have less market powerb the firm will have
a perfectly competitive firm will shut down immediately when the market price falls belowa average variable costb
is the concept of a just price a positive or a normative concept
if average costs and marginal costs are constant thena average variable costs must be increasingb there are decreasing
the production function q lakb0 lt a b lt 1 is called a cobb-douglas productionfunction this function is widely used
if the quality differences of similar products are mostly imperceptible to the average consumers eyes which of the
international data show a positive correlation ie relationship between political stability and economic growtha through