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In 900 words or more needs to be general in nature and should reflect your beliefs, and not necessarily a statement of fact. Are your values based on family, health, achievements, wealth, job success, happiness, faith, love, or anything else that you hold in great esteem, that perhaps you would be willing to even die for? Think of your value statement as what defines you as a person.
Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0 (P = 1.0 is the SRAS Curve, in other words). The aggregate demand curve is Y = 3(M/P) and M = 1,000. If the e..
Describe perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.
A consumer has a utility function, donuts (A) and peaches (B) given by u(A,B) = squareroot AB. Now suppose the price for donuts is .75 cents a unit. what is the maximizing combination of donuts and peaches.
Excludability matters because it: Any cost that is imposed without compensation on someone other than the person who caused it is called: Correcting a market with an externality through taxation is _________ correcting it through a quota. Calculate t..
The city of Touristburg has implemented a lodging tax equal to 2% of gross revenue at local hotels. If you stay in a hotel that costs $250 per night for 3 nights, how much will you pay in lodging taxes? The city of Touristburg estimates the annual gr..
Your firm faces considerable revenue uncertainty because you have to negotiate contracts with several customers. You forecast a 20 percent chance that your revenues will be $200,000, a 30 percent chance that your revenues will be $300,000, and a 50 p..
Can you give examples of the companies that have high pension costs. Why are companies using more technology input while reducing labor input. Explain why are the Average Cost Curves U-shaped.
Suppose you purchase a $5,000 bond that pays 7 percent interest annually and matures in five years. if the inflation rate in recent years has been steady at 3 percent annually, what is the estimated real rate of interest?
Suppose there are 200 identical firms in a perfect competitive industry. Moreover, assume that each firm has the following short run cost function: C(q) = 0.5q2 + 5q + 20.a) Compute the short-run supply curve for a single firm, expressing q as a func..
What effect each of the following events would have on LRAS? Would LRAS shift left, right or no effect? Explain why.
Explain how fiscal policy (making changes to government spending and taxes) would affect aggregate demand (AD).
Discuss some of the reasons why individuals routinely over-estimate the time for project activities. How is this behavior detrimental to the schedule and project?
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