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Question - How does a perfectly competitive firm maximize profit in the short run using marginal revenue and marginal cost? Explain the firms behavior.
Microeconomics, Economics
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Question: Many of us want to lose weight, yet we find it much easier to gain weight than to lose it! Given it takes approximately 3,000 extra calories of food to increase our weight by one pound, why is it so difficult f ...
Question - We know that the AS curve is p = p e + 0.5(Y - Y * ) that is ?(how inflation responds to output gap) = 0.5, (price shock) = 0. Moreover we know: • expected inflation = p e = 4.5 • potential output = Y * = 7 tr ...
Question: 1. Conside rthe general effect of the discount rate on the dynamic efficient allocation of a depletable resource across time. Suppose we have two versions of the two-period model discussed in Chapter 6. The two ...
Question: Write in about 3 paragraphs regarding your impression of the market model (pure competition, pure monopoly, oligopoly, or monopolistic)you feel the newly formed company fits into.(Black and Decker and Stanley W ...
Question: Explain why the accumulation of external debt is a common phenomenon for developing countries and spiraled in the 1980s. What role did commercial banks played? The response must be typed, single spaced, must be ...
Question: As explained in the chapter, economic efficiency is a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production. Using this explanation of e ...
Question: Assume that a firm's analysis of its balance condition shows the following: P_L = exist10, P_K = exist100, MP_L = 30, and MP_K = 290. As a decision maker in this firm, what would you do in the short term to imp ...
Question: Suppose you are playing in a championship basketball game. There are four seconds left in the game and your team is losing by two points. You have the ball and call a time out. You have two choices. You could t ...
Question: Research your present or past company's view on corporate social responsibility. If you do not currently work for a company, pick a company that supports corporate social responsibility. Are there programs or i ...
Question: If economists generally agree that fixed-weight price indexes overstate the actual rate of inflation, why is the CPI still the most popular and widely quoted measure of inflation? The response must be typed, si ...
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