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There are two goods in the economy, anchovies (a fish) and bananas ( FARM product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi=20). The minimum average cost is $10 per..
What is the TOTAL amount of output the firm should produce and approximately how much output should the firm allocate to market 1?
The demand curve for 48" Sony flat screen televisions is likely to move to the right when consumer incomes increase.
Given the following information for November 2010, calculate the amounts of M1 and M2 in November 2010. The amounts are in billions of dollars. Currency $..
What is the total cost of producing q units of honey for an individual honey producer and what is the average cost of producing q units of honey per month for an individual producer?
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?
The long-run aggregate supply curve is vertical at economy's potential output level. Why is the long-run aggregate supply curve situated at his level of output rather than below or above the potential output level?
Determine the relationship between and returns to scale and obtain the long-run input demand functions and the total cost function.
what advice would you give as the economic analysis team and Your client states that it is worth $4,000 annually to be his own boss and not be a butcher any more. Would that change your advice? How and why?
What changes could you make to decrease your energy use? What changes could you make to increase your energy efficiency? ?What do you think would change if your heating oil or coal supply came from Russia?
After Henry ford invented the assembly line for producing automobiles, other automobile companies copied his invention. The new technology rise the economies of scale in automobile producing.
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.
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