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Compute marginal cost. Illustrate what is the marginal cost function for good one.
Compute the marginal product of labor when 9 units of labor are utilized. Illustrate what is the maximum price of capital at which the firm will still make nonnegative profits.
Explain how much are your fixed costs. Illustrate what is the variable cost of producing 20 units of output.
Assume the tag fee charged every year for every vehicle new or old, is a fixed amount of $100. Would such a tax be classified as progressive or regressive, and why.
Give an example of government applying the beneficiary principle. Do not use a toll-road as an example.
Assume the price of oranges rises also the quantity of oranges in the market decreases. Give two reasons why this might have happened.
Illustrate what is the difference among a shift in demand for snow blowers and an increase in the quantity of snow blowers demanded.
Explain why do newspaper vending machines open-up and allow you to take as many papers as you want, but candy machines do not.
Ilustrate what might be included in the "total cost" of acquiring also watching a movie on DVD. Elucidate what about the "total cost" of seeing a movie at the multiplex.
Assume the business environment was structured so that industry were protected against losses but allowed to keep profits.
Elucidate the given statement about the dollar value of output as well as dollar value of spending.
barbecuing meat utilizing charcoal may cause cancer, the government decides to implement a 100 percent tax at the retail level on charcoal briquets.
The Wishbone Cellular Phone Organization offers an optional package for calls whereby each month the subscriber gets the first 50 minutes of calls free.
At current cost, housing costs $50 each unit also the composite good has a price of $1 per unit.
Find out the market demand curve utilizing algebra. Drr, an individual demand curve and the market demand curve.
Suppose that these are the only two periods, also that banks in her country borrow and lend at an interest rate r = 0, draw her inter-temporal budget constraint.
List out and explain briefly about one positive and one negative externality associated with government sponsored gambling.
Illustrate which has rise more rapidly since 1900, the number of physicians or the number of ancillary health workers.
Dr. Old needs that all services be paid for at time of treatment, in cash. If he decides to allow patients to pay with credit cards, will this increase or decrease demand? Will it increase or decr
Illustrate what is the elasticity of between a price of $5 and $6 per visit? Between a price of $29 and $31.
The notation is the same as in class. Suppose which the required reserve ratio is .1 and people do not hold currency.
Consider a country which initially consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed.
Compute the marginal revenue, price elasticity of demand for a given change in the number of visit and cost of visit.
Graph the production possibilities curve for medical services and all other goods and evaluate the changes along the PPF raw a bowed-out production possibilities curve.