Why are the profits of a price taking firm maximized when it produces a level of output where price is equal to marginal cost?

Why are the profits of a price taking firm maximized when it produces a level of output where price is equal to marginal cost?

Economies of Scale

Why does increasing the range of output over which economies of scale are present, influence the amount of monopoly power in an industry. Include graph(s) please.

Calculating elasticities in a competitive marketplace for managerial decision making

I must know the formulas that are used and I must have the calculations. Problem 2 A firm has kept track of the quantity demanded of its output (good X) during four time periods. The price of Z and the prices of two other goods (good Y and good Z) were also recorded for each time period. The information if provided in the ...continues

Concept of opportunity cost

Look at the concept of opportunity cost. Provide an example of how it relates to electronics retail sales. Explain how the concepts relate to why you are getting a degree?

Internationalizing debt

What is "internationalizing" the debt and how is it relevant to today's economy? How does internationalizing the debt reduce crowding out? What are the costs of internationalizing the debt?

Comparative/absolute advantages

Techland and Clothworld are two countries with the same number of workers. In Techland each worker can produce 4 units of technology OR 4 units of clothing. Each resident in Techland currently consumes 2 units of technology and 2 units of clothing. In Clothworld each worker can produce 3 units of technology OR 12 units of clo ...continues

Ability of the fed to control the economy

I need some help with this article. I need a two to three paragraph explanation in real people terms and please explain what the article is saying about the ability of the fed to control the economy. Article: No committee of federal employees sets the price of soybeans, autos or equities. Why should we have one trying to ...continues

Managerial Economics

Question 2 A doctor spent two weeks doing charity medical work in Mexico. In calculating her taxable income for the year, her accountant deducted as business expenses her round-trip airline ticket, meals, and hotel bill for the two-week stay. She was surprised to learn that the accountant, following IRS rules, could no deduct a ...continues

Fiscal Policy Simulation

What were the effects of the changes in fiscal policy in the simulation - Explain what happened in the simulation as you raised and lowered spending and income tax rates Describe how inflation, unemployment, and popularity were affected by at least three different configurations of spending and taxation. For example one co ...continues

Economic Product Formula

See attached file for full problem description.