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understanding how market equilibrium is maintained is essential for business managers as a manager it is important to understand how economic
a firm has the following production function q kl where q output l labour measured in person hours k capital measured in machine hours the
1 if an economist says the higher the price of oranges the fewer oranges individuals will buy ceteris paribus this means thataindividuals dont like
defendo has decided to introduce a revolutionary video game and as the first firm in the market it will have a monopoly position for at least some
write out the formulas for the bias variance and mean squared error of beta1 how do the bias variance and mean squared error depend on the values of
suppose that an oligopolistically competitive restaurant is currently serving 230 meals per day the output where mrmc at that output level atc per
1the accountants hired by davis golf course have determined total fixed cost to be 75000 total variablecost to be 130000 and total revenue to be
the firm currently uses 50000 workers to produce 200000 units of output per day the daily wage per worker is 80 and the price of the firms output is
1 consider a resource whose net growth in biomass x each year fx is given by a logistic growth function where r1 and k1 you can think of the units
predict what would happen to the equilibrium price of marijuana if it were legalized use demand amp supply analysis to answer provide verbal and
frederic bastiat 1801 - 1850 was a french political economist famous for exploding popular economic misconceptions misconceptions that persist to
this activity will require you to access at least a portion of the federal budget as well as a state local and an agency budget this can be done
panther airlines pa is the only airline that flies several routes they have a potential competitor leopard airlines la who are considering entering
consider two firms facing the market demand curve p 100 - q where p is in unit q is total output q q1 q2 q1 is the output of firm-1 and q2 is the
1 indifference curves are convex to the origin ifa a persons marginal rate of substitution declines a he or she consumes more of a goodb a persons
a in the presence of an underground economy likely to result in a gini coefficient that overstates or understates povertyb consider a simple economy
1a prove that profit maximization implies cost minimization but not vice versab consider the problem of maximizing profit pi py - wl subject to the
sometimes market activities production buying and selling have unintended positive or negative effects outside the markets scope these are emitted by
neoclassical economics was a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour discuss1 understanding of
1 the widget industry in anytown is a monopoly controlled by widget corp its demand curve for the local market is given byp 800 - 20 wwhere w
discuss the various ways governments can handle externalities such as noise from a local airport or a barking dog or building of commercial office
grocery stores and gasoline stations in a large city would appear to be examples of competitive markets there are numerous relatively small sellers
two firms produce homogeneous outputs with cost functionsc1q12c22q22and the inverse market demand functionp100-q1q2derive the profit frontier and
1 price elasticity of demand is an important tool for managers in in a selling environment in deciding what to put on sale assume you are the
how is the internet shaping the globalization of culture compare and contrast views of the same landscape by different people the first site contains