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What are some important variables to keep in mind when tailoring marketing strategies to the elderly?
What is average labour income in period 0? What is economy-wide human capital growth rate between periods 0 and 1?
In most political campaigns, candidates promise more than they can deliver. What economic concepts do candidates ignore?
Find the level of output that minimizes its average total cost. What is the level of output in this strategy compared to the profit maximizing output?
Calculate the expected NPV for each alternative. Explain the decision rules for making a selection between the two alternatives on the basis of expected NPV.
A US electronics firm is considering moving its production to plant in Mexico. What are L and K, and what is cost of producing q = 100 units in both countries?
Bring out the major concerns of public economics. Which kind of public intervention isnot still considered a part of public economics and why?
How would such a linkage tend to reduce the agency problems between managers and shareholders as a whole?
Describe how a change in the exchange rate affected your firm. Explain what happened to your price and quantity.
Formulate a hypothesis that links the level of enemoyment to demand for video rentals. How would you test this hypothesis and what problems might you encounter?
Draw a standard supply and demand diagram for widgets, and indicate the equilibrium price and output.
When would workers in an industry benefit from internalizing its externalities?
What is the marginal product of the seventh worker? Under these conditions, would you ever choose to employ nine workers?
A one-day ticket to visit the Screaming Coasters theme park costs $36. What is the average cost per day for the two-day ticket?
As a movie exhibitor, you can choose between paying a flat fee of $5000 to show a movie. Will your choice affect your fixed and variable costs? How?
What is likely to happen to your marginal costs when adding output requires working beyond an eight-hour day, if workers must be paid time-and-a-half wages?
On average, this seems like a profitable business. Should the oil producer expand production given this profitability?
Why is the cost of the lecture note-taker a fixed or variable cost of selling an additional subscription?
The Lighthouse Safety Vest Co. makes flotation vests for recreational boaters. What is the marginal cost to produce one more vest?
At what level is ATC at its minimum? Why is it at its minimum at this point? At what level is MC at its minimum? Why is it at its minimum at this point?
What is the lowest level of output at which the efficient scale of production is reached in the long run?
Using your understanding of the perfectly competitive market, describe this advertising strategy.
Illustrate the effects of a decrease in market demand on a perfectly competitive firm's demand curve.
If Carl sells each calculator for $19, determine profit-maximizing output using the total approach.
If the average total cost is $6 per unit, what will be the firm's profit? What is the relationship between profit, price, and average total cost?