How the firms in a perfectly competitive market
Discuss in detail, how the firms in a perfectly competitive market will respond to long-run profits and losses. Include an explanation of each response affects the price level.
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Explain the marginal revenue product (MRPL ) and marginal cost (MCL ) of labor. Describe why the condition MRPL = MCL is necessary for profit maximization.
The interest rate of a credit card company is 0.5% per month. Richard makes a purchase of $1000 and makes his payment after 14 months. What is the total amount due.
In 2014 in a country with a labor force of 100 million, 6 million people were unemployed. In 2014 number of unemployed people increased to 7.750 million.
Prove that the number of partitions of n in which no part appears exactly once is equal to the number of partitions of n with no parts congruent to 1 or 5 (mod 6).
A body of constant mass m is thrown vertically upward with initial velocity. If the body faces an air-resistance that is propotional to its velocity, calculate
An electronics firm invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in first year and $3000 in each later year. At the end of four years, the firm changed their inspection procedure, eliminating need for de
A scale model of a statue is 7 inches tall. The scale of the model is 1in/1.5ft. What is the actual height of the statue?
If the income elasticity of a product is 3.3 and the amount of the units sold decreased by 9% then discuss how much did wages increase or decrease and by what percent?
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