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There are two goods in the economy, anchovies (a fish) and bananas (a farm product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Your are the chief economic advisor to the King of Terra. The king has observed that while the price of energy has increased 20 percent over the past five years, consumers have actually increased their energy consumption by 10 percent over the sam..
Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
Describe why government regulation is required, citing the major reasons for government involvement in a market economy.
If the two are not independent, a shift in the demand curve can lead to a shift in the supply curve referred to as? a)supply-side economics b)physician-induced demand
About the topic of national debt, it just likes we lent money from our offspring. Most of us think the debt is bad.
In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs? Explain. Who are the winners and losers from trade restrictions? Given that trade restrictions impose loss..
Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
Construct a table showing the (net) marginal revenue product derived from assembly worker employment and how many assemblers would Just Bikes employ at a daily wage rate of $100? Explain your answer and show all calculations.
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