Economic Question 1: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1‚ 1 and 2‚ 2 and 3‚ etc.) Output (units) | TC(＄) | AC(＄) | MC(＄) | 0 | 55 | ---- | 30 | 1 | 85 | 85 | | | | | 25 | 2 | 110 | 55 | | | | | 20 | 3 | 130 | 43 | | | | | 30 | 4 | 160 | 40 | | | | | 50 | 5 | 210 | 42 | | | | | 70 | 6 | 280 | 47 | | | | | 90 | 7 | 370 | 53 | | | | | 110 | 8
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1.Discuss short run‚ long run‚ and very long run analysis in macroeconomics Macroeconomics consists of three realms: short run‚ long run‚ and the very long run. These are ways in which an analysis of the economy can be conducted with respect to time. Until today‚ the different types of national government policies are made based on these models of analysis. short run graph In the short run‚ firms cannot change the prices because there is a lack of time for the price to manifest in the market
Free Gross domestic product Economics Macroeconomics
I. PRELIMINARY Title of the Book : Agricultural Economics Author : Feliciano R. Fajardo BASIC INFORMATION ABOUT THE BOOK 1. Publisher: REX Book Store‚ Inc. 1999 Place of Publication: #856 Nicanor Reyes‚ Sr. St.‚ Sampaloc‚ Manila; 2. Edition: Fourth Edition 1999 Date: 1999 Paging: 294 pages 3. Classification of the Book Textbook – Agricultural II. MAIN REVIEW OF THE BOOK BOOK REVIEW TITLE Why is
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Sustainable development is the use of natural resources and natural systems Without finishing them on earth. Sustainable development is a way for people to use resources without the resources running out. The term used by theBrundtland Commission defined it as development with sustainability that "meets the needs of the present without compromising the ability of future generations to meet their own needs."[1] Everyone wants a better place to live. Some people want better homes and housing‚ while
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Week 2 Fundamental Macroeconomics October 22‚ 2012 ECO/372 There are several factors that affect our economy‚ gross domestic product (GDP)‚ real GDP‚ nominal GDP‚ unemployment rate‚ inflation rate‚ and interest rates. All of these factors have influences over how we purchase groceries‚ weather there will be massive layoffs of employees‚ and decrease in taxes. Gross domestic product is the market value of final goods and services produced within a country in a given period. Which this is commonly
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[pic] UNIT OF STUDY GUIDE VICTORIA UNIVERSITY FACULTY OF BUSINESS & LAW‚ SCHOOL OF HOSPITALITY‚ TOURISM & MARKETING |YEAR/SEMESTER | |2012 Semester 2 | |UNIT TITLE | |Consumer Behaviour | |UNIT CODE | |BHO2434
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Trade World Organisation (WTO) is the only global international organisation dealing with the rules between nations . The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on 1 January 1995 under the Marrakech The Agreement‚ replacing the General Agreement on Tariffs and Trade (GATT)‚ which commenced in 1948. The organization deals with regulation of trade between participating countries by providing
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Perfect competition Learning outcomes You should be able to: Describe the assumed characteristics of perfect competition: a large number of firms; a homogeneous product‚ freedom of entry and exit (no barriers to entry or exit); perfect information and perfect resource mobility (factors of production can move easily in and out of the market) Explain‚ using a diagram‚ the shape of the perfectly competitive firm’s average revenue and marginal revenue curves‚ indicating that the assumptions of perfect
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Mix Map Model Mixmap model provides information that helps the company to determine the factors that effectively analyse the present tactics and based on the analysis it can determine future tactics. Mixmap model includes 4P’s‚ Product life cycle‚ BCG matrix and Ansoff matrix. * Product life cycle - Product life cycles (PLC) are the stages that a product goes through during its life cycle in the market. Product life cycle is used in order to show current stage of the product or the company
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Cultural and National identity play a crucial role on our lives everyday. It exercises influences on how we perceive the world around us‚ on the decisions we make and on how we view ourselves. Culture is a way of life of a group of people‚ it is the behaviors‚ beliefs‚ values‚ and language that they accept and are passed along by generations. On that note‚ cultural identity is belonging to a group that shares the same beliefs and religion. Meanwhile‚ national identity is one’s identity of sense of
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