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Suppose the market price is $5. The producer who sells the first unit of output has a willingness-to-sell equal to $1; the producer who sells the second unit of output has a willingness-to-sell equal to $2; and the producer who sells the third unit of output has a willingness-to-sell equal to $4. Total producer surplus is: $7, $8, $4, $5
Choose a foreign country that you have visited - or would like to visit. Download the data (there is a link at the bottom of the page). USING THE DATA (use "dollar price of a BigMac"in column D) explain whether a Big Mac costs more or less than ..
You have been hired as a plant manager for a firm that produces widgets (Q) in Angola, Indiana. Widget production requires machine time (K) and labor time (L).
Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..
The central bank decides to implement an expansionary policy action. What would you expect to happen to the nominal interest rate, the real interest rate and the money supply and credit growth? Under what economic circumstances would this type of pol..
Describe the Diamond-Water paradox and the solution. Explain why price is greater than marginal revenue for a single-price monopolist and how this differs from perfect competition.
The classical range of the aggregate supply curve. Advise the President on good economic policy - When more purchasing power is spent, one expects rising output at rising prices.
Find mathematically and graphically the Equilibrium price and Quantity - Explain demand schedule and demand curve, and how they are related? Why does the demand curve slope downward?
What is the key difference between "old-fashioned" and "high tech" crises? What are the limits of the interest rate approach to resolving balance of payments crises?
Discuss market trends that the organization will face. Explain your conclusions. Address how each of the following will change or will not change.
Write an article critique on labor relations (attached) with the following guidelines and questions. There is a minimum requirement of 750 words for the article critique.
1. Why is a point below the production possibilities curve less efficient than a point on that curve? 2. Distinguish a change in demand and a change in quantity demanded. What are the causes of change in demand and quantity demand
suppose prices are determined as a simple mark-up over expected wages p-wea0-a1uassume further that wages are a simple
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