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What might happen if the government invested heavily in automation?

Price elasticity of demand gives a measure of how sensitive or responsive the _____ of a good or service is to a change in the ___ of a good or service

assume that United states is an importer of televisions

Ball Bearings, Inc., faces costs of production as follows:

Quantity Total Fixed Cost Total Variable Cost

0 $100 $0

1 100 50

2 100 70

3 100 90

4 100 140

5 100 200

6 100 360 Calculate the company’s average fixed cost, average

variable cost, average total cost, and marginal

cost at each level of production.

b. The price of a case of ball bearings is $50. Seeing

that he can’t make a profit, the chief executive

officer (CEO) decides to shut down operations.

What is the firm’s profit/loss? Was this a wise

decision? Explain.

c. Vaguely remembering his introductory economics

course, the chief financial officer tells the CEO

it is better to produce 1 case of ball bearings,

because marginal revenue equals marginal cost

at that quantity. What is the firm’s profit/loss

at that level of production? Was this the best

decision? Explain.

1.     A woman managing a duplicating (photocopying) establishment for $25,000 per year decides to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows:

Salaries to hired help                       $45,000

Supplies                                                15,000

Rent                                                     10,000

Utilities                                                1,000

Interest on bank loan                          10,000

Calculate (a) the explicit costs, (b) the implicit costs, (c) the business profit, (d) the    economic profit, and € the normal return on investment in this business.

numerical difference between rate of change and the level of change

Is this a good or bad time to buy a car?

What are average cost and marginal cost? Given total cost function: C = Q ^ 3 - 12Q ^ 2 + 6Omega*Q Find

Average cost and marginal cost

Critically discuss the principles of learning that could help you in designing and conducting your Economics education sessions

The maize grown in Mphumalanga is used primarily to feed livestock. Suppose that the current "foot and mouth disease" scare were to lead to a significant drop in the size of cattle herds nationwide. What impact would you expect in the market for maize?

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