Advanced analysis assume that the consumption schedule for a private open economy is such that consumption is: c = 60 + 0.8y assume further that planned investment ig and net exports xn are independent of the level of real gdp and constant at ig = 40 and xn = 10. government spending (g) is equal to $0. recall also that, in equilibrium, the real output produced (y) is equal to aggregate expenditures: y = c + ig + g + xn

You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. recently, you saw that stubhub was listing similar seats for $225 apiece. what does it cost you to attend the concert?

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.

Describe what fixed costs and marginal costs mean to a company.