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Economists argue at what point of the Business Cycle our country is now situated. Utilizing the concepts of leading, coincident and lagging indicators and Unemployment rate the price of gold and oil is rapidly raising and gasoline is often over $4.00 a gallon, describe at what point you believe our nation is presently, and in which direction we are heading.
(b) Why is the firm's demand curve flatter than the total market demand curve in monopolistic competition (c) Suppose a monopolistically competitive firm is making a positive economic profit in the short run. What will happen to its demand curve i..
the study of government regulation and the competitive environment for business is relevant to all those who study
Explain the relationship between the price of a resource and the quantity demanded of that resource with reference to supply, demand, and derived demand.
If the housing bubble busting causes the share of output of investment to fall 6% of potential GDP, what will happen to the economy?
What price should be set if the commission wishes to eliminate economic profits?
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Proponents of these subsidies lobby government and argue that these subsidies are justified because there are positive externalities from people owning homes instead of renting. Perform a Google search to find what externalities these proponents c..
If the price level is above the equilibrium price level, how does the aggregate quantity of goods and services demanded compare to the aggregate quantity of goods and services supplied at the price level? Is this a condition of equilibrium? If no..
. In a sample of 300 houses, the sample average price was found to be $196,340. Assume the variance of house prices is 120,000,000. Let random variable X denote house price, and ? denote its unknown population mean, E(X) = ?. For each of the follo..
What is the equilibrium quantity in this market and what is the equilibrium price in this market and what are the resulting output, revenue, cost, and profit of the typical firm?
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
A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units that it must lower the price of its output from $2 to $1. Calculate the quantity effect and the price effect
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