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1. Graph a market with a tax where firms pay the majority of the tax.
2. Graph the long run equilibrium for perfect competition. Using a similar average cost curve, graph the long run equilibrium for monopolistic competition. Compare the results.
3. Graph an increase in demand when supply is elastic and show the change in eq. P and Q. Graph a similar increase in demand when supply is inelastic and show the change in eq P and Q. compare the results.
Why Do Gas Prices Fluctuate? Gas was selling for $3.95/Gallon on Labor Day Weekend of 2012. At election time, the price was $3.15/Gallon. Now, it is $3.55/Gallon. What causes increases and decreases in the price of gasoline? Use Demand and Supply cur..
a. explain the difference between the real exchange rate and the nominal exchange rate.b. if a japanese car costs
lorenz curve graphs the cumulative percentage of income against the cumulative percentage of households. for questions
1. assume that all expenditure is summarized in the following consumption and investment functionsc 200 billion 0.8
1. let uxy x13y23 and let i 100 px py 1. write the foc for the consumers ump and compute the consumers demand
Apples-R-Us is a small Washington orchard in a perfectly competitive apple industry. Apples-R-Us’ short-run supply curve is STC = (1/3)q^3 + 10q^2 + 100q +48. What is the short-run marginal cost curve?
The widget industry is currently a monopoly facing the demand curve P=200-20Q, where Q is total industry output. Firm 1 is the monopolist and has a marginal cost of $20. Firm 2 is a potential entrant and must pay $130 up front to enter. Once it pa..
nbspthe company abc inc. bought a machine for automatic playback of software at a cost of 20000 the original cost
questiona let the utility function be u logx - l where l is labour and x is consumption. find the level of labour
Describe what happens to the economy when interest rates are lowered and the economy is at near-full employment using (The Aggregate Demand-Aggregate Supply Model) The end of your discussion should state the final effects
Now consider the long run, in which bike manufacturers are free to enter and exit the market. Show the possible effect of this free entry and exit by shifting the demand curve for a typical individual producer of bikes on the following graph
During 1993 when the economy was growing very slowly, President Clinton recommended a series of spending cuts and tax increases designed to reduce the deficit. These were passed by Congress in the Omnibus Budget Reconciliation Act of 1993.
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