Derive the marginal and average cost functions. Define supply side economics Consider the utility function U(X_1, X_2) = 10X_1 - X_1^2 + X_2 and with a budget constraint of P_1X_1 + P_2X_2 = M From the Lagrange function associated with the utility maximization problem find the...
c. average cost - average fixed cost d. none of the above Profits: Profits can be identified as the leftover money with the business after covering all its expenses and costs. It is determined by deducting the firm's...
A) What is marginal utility? B) Why is the term marginal important in utility analysis? What is marginal utility? Why is the term marginal important in utility analysis? What condition is being met when goods are being produced and sold at the lowest possible average cost? a. Allocative eff...
If so, then community banks might outperform large banks when it comes torelationship lending, even in light of increased costs. At the same time, because there is a fixed cost component to the increased costs imposed by regulation and technology, there may be a size below which the costs ...
2. Explain the different factors which cause a shift in the consumption and saving schedule. Consumption and Saving: Consumption expenditure is defined as the purchase of products and amenities by individuals and households. In contrast, savings is the amou...
When running an ols regression, if one of my 3 control variables are insignificant via T-test, should I keep them in the regression/how should I interpret them? What is linear regression? Explain Define and know how to calculate average variable cost. Based off of a regression output, how...
Are there fixed costs in the long-run? Explain briefly. What is the opportunity cost of being enrolled in an economics class? Explain the cost-benefit analysis and give examples. Describe your understanding of externalities by providing an example of a pos...
In the parlance of economics, economies of scale is defined as a situation where the the total average cost per unit decreases owing to increase in...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough...
In finance, define cash conversion cycle (CCC). Explain why, holding other things constant, a firm's profitability would increase if it lowered its CCC. Finance: Finance involves all the activities associated with money, includ...
Define a natural monopoly in detail and explain the average cost pricing policy. Write the definition of a pure monopoly. What is the theory of natural monopoly? What is a natural monopoly? In what sense is it "natural?" What is the difference between natural and pure monopoly? What is a...