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Write down an expression π(q ) for profits as a function of q. Find the profit-maximizing choice of q for Smith, and the corresponding price and profit.
Explain which of the following transactions would be directly counted in 2007's GDP. In each case, explain whether the action causes an increase in Consumption, Investment, Govt. Purchases or Net Ex
The law of diminishing marginal utility implies that as a person consumes more and more of a given commodity:
Discuss the contributions of the competing and dominant school of thought to evolution of labor economics;mention the paradigm differences and the distinctions between old labor economics and new la
A fall in the value of the dollar against other currencies makes U.S. final goods and services cheaper to foreigners even though the U.S. aggregate price level stays the same.
If a pure monopolist can engage in price discrimination: the marginal revenue curve and the total revenue curve will now coincide.
What is the opportunity cost of producing a car in Saudi Arabia? In the United States? What is the opportunity cost of producing a barrel of oil in Saudi Arabia? In the United States?
What are the data in the table saying? What is an implication of the pattern shown? What are the data in the table saying?
et a typical consulting firm have production function f (L) = 10000L1/2 and the firm also incurs a fixed cost of 1000. What is this firm"s total cost function, average cost function, average variab
Why does the demand curve slope downward (in other words, why does a higher price reduce the quantity demanded?)?
Assume that for the entire business sector of a private closed economy there is $0 worth of investment projects that will yield an expected rate of return of 25 percent or more.
What is the importance of the economic entity assumption? What types of information are presented in the notes to the financial statements? What purpose does the going concern assumption serve?
What is the purpose of the management discussion and analysis (MD&A)? Why is it important for financial statements to receive unqualified auditor"s opinion?
What items decrease the balance in retained earnings? What is the basic accounting equation? Define the terms assets, liabilities, and stockholders" equity.
What is the purpose of the statement of cash flows? What are the three main categories of the statement of cash flows? Why do you think these categories were chosen?
Arm, U.S.S.R disarm U.S. Arm, U.S.S.R. Econ 101 What are the dominant strategies for Camel and Marlboro in the advertising game? Econ 101 Question 16.5: Common Resource Game What are the dominant s
Depreciation on factory equipment. An auto body repair shop will fix a variety of problems caused by car accidents, from simple dents to engine replacement to frame straightening. Basically, each jo
Explain how monopoly arises and distinguish between single-price monopoly and pricediscriminating monopoly. Explain how a single-price monopoly determines its output and price.
Production When you have completed your study of this chapter, you will be able to 1 2 3 4 Explain how economists measure a firms cost of production and profit. Explain the relationship between a f
Can citizens who speak an official language other than the majority language receive official personal documents in that language? What arrangements have been made in this respect?
What can you find with respect to the financial account of the balance of payments to substantiate that interpretation?
If we accept Marx"s labor theory of value, we run into a different problem: if a workingday of 8 hours creates the same amount of value in a highly mechanized industry as in an industry with few ma
What are real options, how are companies using real options, what types of options exist, why are real options important, who uses real options, where are real options most appropriately used, and w
In a closed economy, savings is equal to national savings. In an open economy, savings is equal to national savings plus capital inflow. At any given time, however, savers, the people with funds to
He runs a red light on the way to work 2. Answer the following about marginal versus average: (a) Selwyn signed up with an internet provider for a fixed fee of $19.95 per month. For this fee he get