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In what two ways is the market structure known as perfect competition said to be “efficient” so that we use it as a benchmark against which to measure the results of the other market structures?
Compare the sum of consumer and producer surplus for the monopoly with the results for perfect competition.
examine the following list of goods and services. which goods and services should be included in fredonia gdp in 2009
Illustrate what are consumption also saving in each period, suppose no borrowing constraints. What happens if the consumer faces a borrowing constraint that prevents her from borrowing.
Illustrate what is micelles opportunity cost of producing potatoes and or chickens if she were to produce 200 pounds of potatoes per year and 50 chickens per year.
Which is a characteristic of the German health care system?
Sally has set aside about $7500 for a down payment, and she has budgeted for a monthly payment of $900. She expects that her salary will increase about 5% per year in real terms,but she would like to use that increase for “fun” purposes. Sally is als..
List at least four examples of why governments choose to restrict trade with another country. Which of these examples do you feel is the most justifiable?
Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs.
using the ZZ/Y and NX graphs, illustrate graphically and explain what effect a reduction in taxes will have on output, exports, imports, and net exports. Clearly label all curves and clearly label the initial and final equilibrium.
Statistics show that vacancy rates average 20 percent on any given night." Assuming his statistics are correct, evaluate his negative assessment of the situation in terms of business-stealing and product-variety externalities.
q.the inverse market demand for mineral water is p200-10q where q is the total market output and p stands for price of
An American worker and German worker can each produce one car per month. An American worker can produce two tons of grain per month, and a German worker can produce one ton of grain per mont. Calculate what the optimal trade would be for these two co..
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