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Q1. Did the economic recession we've experienced recently affect your organization? How could anything you've learned in the past few weeks in this course help to understand or alleviate the problems you've experienced?
Q2. Suppose the Indian rupee price of one British pound is 54.392 rupees for each pound. A hotel room in London expenses 120 pounds while a alike hotel room in New Delhi expenses 6500 Indian rupees in which city is by how much the hotel room cheaper?
The ending of company prepayments balance is expected to be the same as its beginning prepayments balance.
Use supply and demand model to explain the dramatic rise in the price of a college education.
If Professor P chooses x and s to maximize her utility subject to the constraint that Mr. A is willing to work.
Write down the profit maximization problem of the representative firm. What is the new short run equilibrium price and production.
What is now the effect on gold consumption and mining of an increased use of gold as money.
Explain why the different definitions are important also explain the different procedures of the money supply.
Explain the strengths and weaknesses of using monetary policy in comparison to fiscal policy when promoting economic activity.
What is the market equilibrium cost. What is the equilibrium number of firms in the market.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
Suppose now the price of a cell phone minute falls to $.50 per minute. Show how this will change the budget line.
Starting with the situation in part d, suppose the government starts taxing the population $30 each year without spending anything.
This is an essay question, but I don't know how to explain. Should I use the supply-demand curve to explain, or use the marginal cost- marginal revenue curve to explain this question.
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