Please, match the following descriptions with the correct economic concept (Long Run or Short Run)
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Suppose a consumer of goods x and y is maximizing total util…
Suppose a consumer of goods x and y is maximizing total utility. , where MU indicates marginal utility and P indicates price of good. In this case A, a consumer will likely to purchase (1) _________________ , where MU indicates marginal utility and P indicates price of good. In this case B, a consumer will likely to purchase (2) _________________
Consider the following information about a business, Erika’s…
Consider the following information about a business, Erika’s, that opened last year: price = $10, quantity sold = 4; implicit cost = $20; explicit cost = $10. What was Erika’s economic profit last year?
Joe Biden is the current president of the United States.
Joe Biden is the current president of the United States.
Based on the above figure, this is the case of ____________…
Based on the above figure, this is the case of ___________________. it also means that he has “done as well as could have been done.”
Case 1 where Price < AVC Case 2 where Price > ATC Case 3 wh…
Case 1 where Price < AVC Case 2 where Price > ATC Case 3 where ATC > P > AVC MC (Marginal Cost) MR (Marginal Revenue) ATC (Average Total Cost) AVC (Average Variable Cost) d (demand curve) P (price) Based on the above figure for a perfectly competitive firm in the short run, In which cases will a perfectly competitive firm continue to produce in the short run? _____________ (Select two answers that apply)
The cost of producing a bushel of wheat in Country A is $5…
The cost of producing a bushel of wheat in Country A is $5, and the price at which Country A sells a bushel of wheat abroad is $4. This is an example of
Under the Articles of Confederation, the central government…
Under the Articles of Confederation, the central government imposed taxes.
The 6th amendment prohibits cruel and unusual punishment
The 6th amendment prohibits cruel and unusual punishment
In which type of election are you most likelyto see coattail…
In which type of election are you most likelyto see coattail effects?