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Which of the following statements is false?
A) An increase in demand causes equilibrium price and quantity to rise.
B) A decrease in demand causes equilibrium price and quantity to fall.
C) An increase in supply causes equilibrium price to fall and quantity to rise.
D) A decrease in supply causes equilibrium price to rise and quantity to rise.
The average total cost of a monopolistic firm is AT C = 80/Q + 20Q. The firm is facing the demand function given by P = 6000 − 20Q. a) What will be the total profit that this firm will generate if it chooses price and quantity optimally?(Profit=22492..
All astute comments thus far. Some government projects also programs continue to give benefits for many yrs.
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Treasury funds national debt by a mix of T-bills, T-notes, and T-bonds with maturities of 10-30 years. During President Clinton's administration Treasury proposed that by issuing more T-bills
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Explain why oligopolists have an incentive to collude or form a cartel and Explain why oligopolists in a collusive agreement might have an incentive to renege on such an agreement.
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Cultural relativism is the practice of evaluating a culture by its own standards. Cultural relativism requires understanding unfamiliar values and norms as well as suspending cultural standards we have known all our lives. What do you think can be le..
In the theory of public goods, the degree of rivalness of any good can be measured by SMC/AC, where SMC is the social marginal cost of the good and AC is its average cost. Estimate the typical degree of rivalness of an agricultural product like wheat..
What is now the effect on gold consumption and mining of an increased use of gold as money.
Explain why a person starting up a small business probably stands a better chance of raising money by applying for a bank loan than by issuing bonds. Banks now control only about half as much of the total financial intermediary assets as they did abo..
In what situations will a court impose a strict liability standard instead of a negligence standard? Provide a real-world example of a strict liability case. Is imposing this standard fair? Are strict liability standards fair as a general rule?
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