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Suppose that in the Akerlof example, there are only eight cars ranging in quality from 1/4 to 2 (there is no complete lemon). Hence, the mean quality level is 1.125. Determine whether the market disappears completely, and if not, how many cars will be sold.
Find Michael's income elasticity for filets.
Why is the pricing of a Gillette safety razor a form of two-part tariff Must Gillette be a monopoly producer of its blades as well as its razors Suppose you were advising Gillette on how to determine the two parts of the tariff.
explain the most important characteristic in perfect competition monopolistic competition oligopoly and monopolies and
Explain the process or mechanism underlying how a market-based economic system allocates scares resources. Identify how this process might differ from a centrally planned or command economy.
Using the Keynesian cross model, draw a graph to illustrate and explain what will happen in an economy when planned aggregate expenditures are greater than real GDP (i.e., A.E. > Y). How is equilibrium achieved in this economy
Compute how much more output there is in this economy immediately thanks to this improvement in technology.
southwest airlines is by far the low cost carrier on the sacramento to los angeles air travel route. their marginal
Government spending is often too small to have the impact that governments usually want to see on the economy. However, something occurs in the economy after the initial government injection which makes the end result much larger.
suppose that dent carrs long-run total cost of reparing s cars per week is cs 2s2 50. if the price he receives for
Given the increase in government expenditures and the marginal propensity to consume, how would yoou find the change in equilibrium GDP.
In the short run a monopolistically competitive firm will
at the fishing hole people come from all around to catch fish to sell at the fish market. the total number of fish
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