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Type of production A B C D E
Automobiles 0 2 4 6 8
Forklifts 30 27 21 12 0
If the economy characterized by the production possibilities table were producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources ?
Paradox Dental, Limited., enjoys a local monopoly in provision of oral examination services in Tuskegee, Alabama. Total and marginal revenue relations for standard procedure are:
Say if the following statement is true or false and why-Exports depend only on the demand of foreign countries for our products and therefore our exporting
Elucidate each of the folling statements using supply and demand diagrams. When a cold snap hits Florida, the price of orange juice rises in super marlets through out the country.
One supply-side measure introduced by the ReaganAdministration was a cut in income tax rates. Use an aggregatedemand/aggregate supply diagram to show what effect was intended.What might happen if such a tax cut also shifted the aggregatedemand cur..
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
If prices rise, people’s income from selling goods increases. However, the growth of real GDP ignores this gain. Given this information, why do economists prefer real GDP as a measure of economic well-being?
Are there any current subsidy or welfare issues?
Over the last decade, Apple Computer has seen its global share of the personal computer market fall from above 10 percent to less than 5 percent. Despite a keenly loyal customer base, Apple has found it more and more difficult to compete in a mark..
Suppose that the nominal rate of inflation is 4 percent and the inflation premium is 2 percent. 1.What is the real interest rate Alternatively, assume that the real interest rate is 1 percent and the nominal interest rate is 6 percent.
The deadweight loss that is associated with a monopolisticallycompetitive market is a result ofa.price falling short of marginal cost in order to increasemarket shareb.price exceeding marginal cost.c.the firm operating in a regulated industry.d.exces..
There are over 5,000 banks in United State. more than ten times the number per capita than other industrialized countries.
Calculate the cross-price elasticity for the following goods. Are they complements or substitutes?
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