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For each of the four scenarios below, determine how each event would affect our firm's marginal, average, and average variable cost curves. Consider each situation independently. Describe in detail.
a. An increase in employee wages
b. A decrease in material costs
c. The government imposes a fixed amount of tax (i.e. it is not a percentage tax but a fixed dollar amount)
d. The rent that the firm pays on their building lease decreases.
What is the market supply curve?
In contrast to firms operating in purely competitive industries, demand curves faced by monopolists are less elastic at all levels of output
Define a dummy variable equal to 1 for years after 1979. Include this dummy in equation (10.15) to see if there is a shift in the interest rate equation after 1979. what do you conclude ?
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explain why the aggregate supply curve is vertical in a graph with the price level on the vertical axis and real gdp on
What phase of the business cycle was Italy going through in 2012? Refer to the above sources and economic theory in your answer and demonstrate the phase of the business cycle using an aggregate demand and supply model.
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Scooter wishes to sell a bond that has a face value of $996. The bond bears an interest rate of 9.52% with bond interest payable quarterly. Three years ago, $1,110 was paid for the bond. At least a 11.29% return (yield) on the investment is desired.
Normal 0 false false false EN-US X-NONE X-NONE Explain the value that Marx..
The point M on the accompanying production possibilities curve depicts the mix of output that is determined by the free market. In your opinion as an economist, where is the socially optimal mix of output Mark this on the PPC as point S
historically shifts towards a more expansionary monetary policy have often been associated with increases in real
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