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What three things must equal price in a long run competitive equilibrium? What adjustments occur if any of these doesn't hold? How are each of these things brought into balance with price?
What is the most common way modern labor unions use to raise wages? This will result in the fewest jobs lost if labor demand is elastic or inelastic?
What is the value of the vertical intercept of the aggregate expenditures function when we add net exports. What is the total (equation wise) of autonomous spending with net exports added.
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
Consider a household that possesses $100,000 worth of values (computers, electronics, jewelry, etc). This household faces a 0.10 probability of a burglary. If a burglary were to occur, the household would have to spend $20,000 to replace the stole..
A.Based on the National Accounts, what policies would you implement to eliminate a NX
Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2 million. Ranking the firms' sales from highest to lowest, we find the top four firms' sales to be $260,000, $220,000, $150,000, and $130,000, ..
Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest).
The increase in the share of profits in national income has brought about demands for an increase in corporate tax. Consider a closed economy where the share of profits in national income is α, and where d of the after-tax profits are distributed ..
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
Market supply of labor The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours per week (QT) supplied to the market.Hourly Wage Hours per week
Eve bought defective ball bearings from Saginaw Corp. Alfred was the sole shareholder of the company and also its landlord. After Alfred sold all Saginaw's assets, he withheld enough money to cover the rent that Saginaw owed him. As a result Sagin..
Does farming in the United States have the characteristics of perfect competition How does perfect competition in the farming industry help farmers and consumers? Hurt farmers and consumers
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