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Entries Tagged as 'Practice Problem of the Day'

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Practice Problem of the Day, 11/24/2013

November 24th, 2013 · 2 Comments
Practice Problem of the Day

This video reviews how to calculate costs and maximize profit in competitive markets and then discusses how to determine market supply and profit in the short run and how to analyze the transition to the long run. The problem is taken from Principles of Microeconomics, 6th Edition, by N. Gregory Mankiw, and is Ch. 14 […]

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Practice Problem of the Day, 11/20/2013

November 20th, 2013 · 1 Comment
Practice Problem of the Day

This video shows how to determine at what prices a firm will be making an economic profit and at what prices a firm will want to shut down. It also explains at what prices a firm’s supply curve will give positive quantities of production The problem is taken from Principles of Microeconomics by Dirk Mateer […]

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Practice Problem of the Day, 11/19/2013

November 19th, 2013 · 1 Comment
Practice Problem of the Day

This video goes through an example of producing versus shutting down in the short run and shows how to apply the shut-down condition. It also shows how to determine whether a firm would want to exit an industry in the long run The problem is taken from Principles of Microeconomics by Dirk Mateer and Lee […]

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Practice Problem of the Day, 11/16/2013

November 16th, 2013 · No Comments
Practice Problem of the Day

This video explains how to think about the slope of the production function and its meaning. The problem is taken from Economics by Dean Karlan and Jonathan Morduch, and is Ch. 12 problem #9. You can find more practice problems via the Practice Problem of the Day category archive or by visiting the Econ Classroom […]

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Practice Problem of the Day, 11/15/2013

November 15th, 2013 · No Comments
Practice Problem of the Day

This video explains how to think about the difference between accounting profit and economic profit and shows how to calculate each. The problem is taken from Economics by Dean Karlan and Jonathan Morduch, and is Ch. 12 problem #8. You can find more practice problems via the Practice Problem of the Day category archive or […]

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Practice Problem of the Day, 11/14/2013

November 14th, 2013 · No Comments
Practice Problem of the Day

This video shows how to analyze the market impact of a legally-mandated maximum quantity in a market. The problem is taken from Economics, 4th Edition, by R. Glenn Hubbard and Anthony Patrick O’Brien, and is Ch. 4 problem #3.11. You can find more practice problems via the Practice Problem of the Day category archive or […]

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Tags: Practice Problem of the Day