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As the flexible farmer approaches the marketplace, the farmer substitutes non-land inputs for land. As a result, the land-rent function of the flexible farmer is steeper than the land-rent function of the inflexible farmer. What happens as the flexible farmer moves away from the market place? Is the flexible land-rent function more or less steep than the inflexible function? Explain
Explain the predicted impact, other things equal, on the terms of trade of developing countries of relatively slow growth in demand for developing countries goods by developed countries combined with relatively rapid growth in demand by developing..
State whether you agree or disagree with the following statement and explain why: a. When the real economy expands (Y rises), the demand for money expands. As a result households hold more cash and the supply of money expands. b) Inflation a rise i..
france can gain specialization and trade as it recieves more than __________( 7lbs,1lb,4lbs,1/4lb,1/7lb)of fish per each bottle of wine it exports to austrailia.similarly australia can gain from trade as long as it recieves more then _______(4 blo..
Suppose that a profit maximizing companies short run cost is TC=700+60Q. If the demand curve P=300-15Q, which of these options should it do in short run?
Assume that a country's real growth is 2 percent per year, while its real deficit is rising 5 percent a year. Can the country continue to afford such deficits indefinitely What problems might it face in the future
Buyer behavior is at the core of marketing. All marketing programs need to begin with an understanding of why and how consumers buy what they do. If no one purchases a company's product or service, it will quickly go out of business.
Which of the following is not a condition required for the practice of price discrimination?
Many home improvement retailers like Home Depot and Lowes have low-price guarantee policies. At a minimum, these guarantees promise to match a rival's price, and some promise to beat the lowest advertised price
Some firms will lobby their legislative bodies to impose barriers to entry. Can anyone think of groups or firms that do this?
Determine the short run average variable cost and the marginal cost functions. Determine the output level that minimizes short run average variable costs
Assume that federal health investigators are pursuing a report that one of your manufacturing plants has a higher-than-average incidence of cancer among its employees. The plant happens to keep excellent medical records on all its employees, stret..
The long-run Phillips curve suggests policymakers choose between alternative and which of the following will shift the aggregate demand schedule to the right?
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