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1. b. In at least 3 detailed paragraphs, answer the following three questions (use examples to illustrate your response): What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
2. b. For each of the labor markets in which market power over the wage rate is present, write a paragraph describing the characteristics, implications, and provide examples.
3. a. In at least 2 paragraphs, describe why an appreciating dollar helps U.S. consumers, but hurts U.S. producers. Include why appreciation occurs and a real-world example relating to this issue.
The U.S. government offers significant per unit subsidy payments to U.S. sugar growers. Describe the effects of the introduction of such subsidies on the market for sugar and themarket for artificial sweeteners. Explain whether the demand curve (D..
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
Northern Granite Corporation, a corporation in New England, installs granite counter tops in houses. When it 1st entered the business, price per foot for installing a granite counter top was $180 per square foot,
If the marginal product of capital net of depreciation equals 10 percent and the rate of population growth equals 2 percent what must be the rate of technological progress for the economy to be at the Golden Rule steady state
What would the number of paying patients and federally funded seniors be if the federal funding agency raised its rate to $120 per treatment?
As part of your answer explain what happens when aggregate expenditure either exceeds or falls short of output in the current period and what impact this has on production in the next period.
What are the similarities and differences between the three countries in terms of the percentage of the population that works in each type of industry?
can country A change the outcome of the game by burning the bridge they are crossing to invade and committing its troops to fight? expand the game tree to show this option for county A and find the new Nash equilibrium. Explain
Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget change Does your answer depend on the marginal propensity to consume
monopoly1.a monopolistic firm has the short-run marginal cost functionmc 20 4qwhere k capital is fixed and l laboris
Copy the budget line and indifference curve I2 on your answer sheet. Suppose the prices of good X decrease by $2 per unit. Sketch (as accurately as you can) the new budget line in the diagram and indicate the new equilibrium point by drawing an addit..
The WSJ recently reported that Juniper Networks plans to offer its more than 1000 employees opportunity to reprice their stock options.
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