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which will cause a larger short run increase in prices; an anticipated or unanticipated increase in aggregate demand? will they cause the same increase in prices in the long run?
How might you determine whether compact discs and restaurant meals are in competition with each other and interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior;
What was the level of inflation during the time period relative to the history of inflation in the United States? What were the driving factors behind this trend?
Neoclassical economics was 'a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour'. Discuss.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Choose an existing good or service from Will Bury's Price Elasticity, Incremental expenses, or Thomas Money Service Corporation scenarios, or choose an existing business with which you are familiar.
The production possibilities curve represents the set of all and the opportunity cost of a glove in Panama - an airplane manufacturing consortium in Europe, which receives large subsidies from several European countries.
A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals.
Discuss how the rights of those in the public sector differ from those in the private sector, and how it affects overall public sector productivity.
You do not need to provide actual numbers; rather, show on the price axis where the price would be before the externality is considered and the price after the externality is included. What problems might exist in determining this new, externality..
Draw the labour supply curve for taxi drivers in New York City based on this estimate. Note: Since you have no data on wage rates and hours of work supplied, you are expected only to provide a rough approximation of the supply curve.
Use a diagram to show consumer surplus price of 8.00and production of 6 million meals per day. If price remain at 8.00but production were cut to 3 million meals per day.
Show the change in Q if L changes from 1 to 2, and 2 to 3, and does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?
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