Economics
58545 questions • Page 284 / 1171
A perfectly competitive firm operates in the short-run with labor as its only va
A perfectly competitive firm operates in the short-run with labor as its only variable factor. Its production function is: Q = -L3 + 10L2 + 88L…
A perfectly competitive firm operates in the short-run with labor as its only va
A perfectly competitive firm operates in the short-run with labor as its only variable factor. Its production function is: Q = -L3 + 10L2 + 88L where Q is output per week measured…
A perfectly competitive firm will operate and incur an economic loss in the shor
A perfectly competitive firm will operate and incur an economic loss in the short run if the loss is smaller than its total fixed costs. it knows it can recoup the loss in the lon…
A perfectly competitive firm\'s average fixed cost function is AFC = 20/Q, its a
A perfectly competitive firm's average fixed cost function is AFC = 20/Q, its average variable cost function is AVC = 2 + 0.2Q, and it marginal cost function is MC = 2 + 0.4Q. The…
A perfectly competitive firm\'s short-run supply curs e is the part of its margi
A perfectly competitive firm's short-run supply curs e is the part of its marginal cost curve that is: upward sloping. above the minimum level of average variable cost. above aver…
A perfectly competitive industry consists of many identical firms, each with a l
A perfectly competitive industry consists of many identical firms, each with a long-run average total cost of LATC = 800 – 10Q + 0.1Q 2 and long-run marginal cost of LMC = 800 –20…
A perfectly competitive industry has a large number of potential entrants. Each
A perfectly competitive industry has a large number of potential entrants. Each firm has an identical cost structure such that the long-run average cost Is minimized at an output …
A perfectly competitive industry is characterized by the cost function for indiv
A perfectly competitive industry is characterized by the cost function for individual firms: TC(q) = 0.01q2 + 100 and by demand function: D(p) = 10, 000 100p Compute the long-run …
A perfectly competitive industry is in equilibrium with price Po and quantity Q
A perfectly competitive industry is in equilibrium with price Po and quantity Q Then the government imposes a price ceiling of Pmax. Use the diagram to the right to answer the fol…
A perfectly competitive industry is initially in a short-run equilibrium in whic
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale…
A perfectly competitive industry is initially in a short-run equilibrium in whic
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale…
A perfectly competitive industry is initially in a short-run equilibrium in whic
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale…
A perfectly competitive market is shown in the graph on the right. The equilibri
A perfectly competitive market is shown in the graph on the right. The equilibrium price and quantity are $6 and 4 units, respectively Price The government institutes a price supp…
A perfectly competitive market is shown in the graph on the right. The equilibri
A perfectly competitive market is shown in the graph on the right. The equilibrium price and quantity are $6 and 4 units, respectively Price The government institutes a price supp…
A perfectly competitive market is shown in the graph on the right. The equilibri
A perfectly competitive market is shown in the graph on the right. The equilibrium price and quantity are $6 and 4 units, respectively Price The government institutes a price supp…
A perfectly competitive painted necktie industry has a large number of potential
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized a…
A perfectly competitive painted necktie industry has a large number of potential
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized a…
A perfectly competitive painted necktie industry has a large number of potential
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized a…
A perfectly competitive painted necktie industry has a large number of potential
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized a…
A perfectly elastic (horizontal) demand curve indicates that this market for wid
A perfectly elastic (horizontal) demand curve indicates that this market for widgets is: A. Perfectly Competitive B. Monopolistically Competitive C. Oligopolistic D. Monopolistic …
A perfectly elastic curve implies that the firm: nust lower the price in order t
A perfectly elastic curve implies that the firm: nust lower the price in order to sell more output b. is selling a differentiate product an sell as much output as it wants at the …
A perfectly elastic demand Implies that buyers will not respond to any change in
A perfectly elastic demand Implies that buyers will not respond to any change in price. a horizontal demand curve. price and quantity demanded respond proportionally. price will r…
A perfectly elastic supply curve is __________. a horizontal line a vertical lin
A perfectly elastic supply curve is __________. a horizontal line a vertical line neither a horizontal nor a vertical line A 5 percent increase in the price of sugar causes the qu…
A person chooses between leisure and consumption. All of their consumption comes
A person chooses between leisure and consumption. All of their consumption comes from current income. The utility derived from any combination of leisure and consumption is given …
A person chooses between leisure and consumption. The utility derived from any c
A person chooses between leisure and consumption. The utility derived from any combination of leisure and consumption is given by the formula: U=LC-88C where U is utility, L is nu…
A person deposits $1,000 into a money market account which pays interest at a ra
A person deposits $1,000 into a money market account which pays interest at a rate of 10% per year. What is the amount in the account after 20 years? A NSU optical engineering stu…
A person has an expected utility function of the form U(w)=w^1/2.He has an initi
A person has an expected utility function of the form U(w)=w^1/2.He has an initial wealth of $25.He also has a lottery ticket that will be worth $75 with probability 1/2 and will …
A person in the _____ is able to move beyond self-interest and take into account
A person in the _____ is able to move beyond self-interest and take into account the larger needs of society. Securities and Exchange Commission Occupational Safety and Health Adm…
A person is defined as unemployed if he or the docs not work full time have a jo
A person is defined as unemployed if he or the docs not work full time have a job but is actively seeking one cam a wage above the minimum wage rate cam enough income to be above …
A person named Leslie lives in Metropolis and likes to rasie goats (G) for milk,
A person named Leslie lives in Metropolis and likes to rasie goats (G) for milk, grass mowing, and company. Unfortunately, her neighbor named Lee finds the noise of the goats very…
A person starts her own business after quitting a job in which she made $75,000.
A person starts her own business after quitting a job in which she made $75,000. Expenses include $175,000 for wages and salaries (including a salary of $100,000 for herself), $15…
A person who sells pleasure boats becomes unemployed because sales at the dealer
A person who sells pleasure boats becomes unemployed because sales at the dealer that employs him have recently declined. The dealer attributes the decline in sales to a slow-down…
A person who takes a prescription drug to control high cholesterol most likely h
A person who takes a prescription drug to control high cholesterol most likely has a demand for that drug that is Select one: a. highly responsive to changes in income. b. unit el…
A petroleum geologist estimates that the present annual production of 300000 bar
A petroleum geologist estimates that the present annual production of 300000 barrels of oil from a group of 10 wells will decrease as follows over a 19 year life: Years 1 - 4, 300…
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexica
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican Markets for one of its patented drugs: Qus= 300,000 - 5,000Pus and Qx= 240,000- 8,000Px where qua…
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexica
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs: Qus = 300,000-5,000Pus and Qx = 240,000-8,000Px where quan…
A phenomenon in the retail merchandising of food and clothing in the United Stat
A phenomenon in the retail merchandising of food and clothing in the United States and the United Kingdom is the growing popularity of private-label (also called store-brand) prod…
A piece of equipment that was purchased for $25,000 five years ago has a current
A piece of equipment that was purchased for $25,000 five years ago has a current book value of $6,000. This equipment can currently be sold for $ 5,000. This equipment can provide…
A piece of equipment used for research is purchased for $945,000 and is to be de
A piece of equipment used for research is purchased for $945,000 and is to be depreciated over a specific period of time. If the salvage value at the end of its depreciable life i…
A piece of newly purchased industrial equipment costs $1,020,000 and is classifi
A piece of newly purchased industrial equipment costs $1,020,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table. Cal…
A piece of newly purchased industrial equipment costs $1,020,000 and is classifi
A piece of newly purchased industrial equipment costs $1,020,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table. …
A planned freeway connecting two cities was originallybudgeted to cost $200 mill
A planned freeway connecting two cities was originallybudgeted to cost $200 million. After building part of the system ata cost of $150 million, the government realised that the t…
A plant engineer wishes to know which of two types of light bulbs should be used
A plant engineer wishes to know which of two types of light bulbs should be used to light a warehouse. The bulbs currently used cost $45.00 per bulb and last 14,600 hours before b…
A plant engineer wishes to know which of two types of light bulbs should be used
A plant engineer wishes to know which of two types of light bulbs should be used to light a warehouse. The bulbs currently used cost $45.00 per bulb and last 14,600 hours before b…
A plant engineer wishes to know which of two types of light bulbs should be used
A plant engineer wishes to know which of two types of light bulbs should be used to light a warehouse. The bulbs currently used cost $45.00 per bulb and last 14,600 hours before b…
A plant engineer wishes to know which of two types of light bulbs should be used
A plant engineer wishes to know which of two types of light bulbs should be used to light a warehouse. The bulbs currently used cost $45.00 per bulb and last 14,600 hours before b…
A plant manager is considering implementing a preventative maintenance plan for
A plant manager is considering implementing a preventative maintenance plan for all of her large motors. Based on comparable programs at other facilities, she expects that this wi…
A plant uses an air compressor 24 hours a day, 360 days per year. The compressor
A plant uses an air compressor 24 hours a day, 360 days per year. The compressor provides 500 cubic feet per minute (cfm) at a specific efficiency of 0.27 kW per cfm. The facility…
A plasma arc furnace has an internal combustion temperature of 7,000 °C and is b
A plasma arc furnace has an internal combustion temperature of 7,000 °C and is being considered for the incineration of medical wastes at a local hospital. The initial investment …
A plasma arc furnace has an internal combustion temperature of 7,000°C and is be
A plasma arc furnace has an internal combustion temperature of 7,000°C and is being considered for the incineration of medical wastes at a local hospital. The initial investment i…
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