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Problem: When total revenue increases from $18,000 to $26,000 when quantity increases from eight to ten, marginal revenue is equal to:
Problem: Which of the following cost relationships is not true? a. AFC = AC - MC b. TVC = TC - TFC c. the change in TVC/the change in Q = MC d. the change in TC/ the change in Q = MC
Which of the following is a relevant cost? a. replacement cost b. sunk cost c. historical cost d. fixed cost e. all of the above are relevant.
Economists consider which of the following costs to be irrelevant to a short-run business decision?
Problem: Which of the following is an example of how the question of "what goods and services to produce?" is answered by the command process?
If a stock is expected to pay an annual dividend of $20 forever, what is the approximate present value of the stock, given that the discount rate is 5%?
Problem: A firm that seeks to maximize its revenue is most likely to adhere to which of the following?
Which of the following is an example of an adverse selection problem and which is a moral hazard incentive problem? In each case, give one method that the restaurant might use to reduce the problem
Problem 1: What is the grim trigger strategy, and how does it solve the Prisoner's Dilemma in repeated games? Problem 2: Under what circumstances is it likely to fail?
Problem: Please explain what the concept of mutual interdependence among oligopolists is. Write your response in APA style of writing.
When the consumption of chicken (whose price has not changed) increases following an increase in the price of beef, the two products can be considered to be:
Among the advantages of the _____________ technique of forecasting are ease of calculation, relatively little requirement for analytical skills, and the ability to provide the analyst with informati
Problem: The equation for the required rate of return on an individual stock given by the Capital Asset Pricing Model is:
Calculate the real GDP in each year, assuming that the nominal GDP was $559 billion in the base year, $577 billion in year one, and $605 billion in year two; and that the price index rose from 100 t
Problem: For each of the following equations, graph the line and calculate its slope. A) P = 10-2Qd ( Put Qd on the X-axis) B) P = 100-4Qd ( Put Qd on the X axis)
The consumer's utility function is U=4 square root of X1 + X2. This means that the MRS at the bundle (x1, x2) is 2/square root of X1. Show that the individual's indifference curves have the diminish
"Why is it likely that in a system of private education (i.e., a system in which individuals pay for their own education) there will be underinvestment in education? *Remember, education, likes yard
Problem: When a firm is able to set its price, its price will always be less than its MR. Is this true or false and why??
The main factor that explains the difference between accounting cost and economic cost is? A) Opportunity cost? B) Fixed cost?
The income elasticity for most staple foods, such as wheat, is known to be between zero and one. 1. As incomes rise over time, what will happen to the demand for wheat? 2. What will happen to the quan
Compute revised probabilities of a successful racquetball facility given a favorable and given an unfavorable survey.
The results in parts a and b pertain to only the next four years. How can the firm's manager extend the planning horizon?
Do you believe that there are certain common characteristics or traits of American managers that have led to moral or ethical decline in US business over recent years and thus business scandals?
Question: How do people judge whether prices are too low, too high or fair?
Can you explain why the answers to parts c and d are not the same? What does this imply about the slope of the production possibility frontier?